Student Loans

Money FCU supports higher education by partnering with Student Choice. By partnering with the student loan experts, we offer superior private student loan options. Education expenses are rising. Ease your burden knowing you can afford to reach your dreams with the best student loans Money FCU offers.

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What are private student loans for?

A private student loan picks up the additional costs that federal and state funding do not cover. Also, scholarships don’t always cover the full cost of education. A private student loan helps bridge the gap between the financial aid you’ve received and the final cost for all educational expenses.

Illustration of people calculating student loan interest rates

How do student loans work?

We always recommend taking the free money (scholarships and grants) and less expensive state and federal student aid money first. If federal direct loans, scholarships, and school grants do not cover your educational expenses, a private student loan is used in conjunction to pay the rest of your college expenses.

Student loans are privately funded loans. These loans are to borrow money from the credit union for college costs. Use your funding to pay for student housing, tuition, books, school supplies, and more. The lender provides a set amount of money upfront to the borrower. In turn, the borrower agrees to a repayment plan with a manageable monthly payment. Money FCUs student loan interest rates are a variable rate for undergraduate student loans and a fixed rate for student loan refinancing.

illustration of a computer, graduation hat, and a gold coin, indicating student loans

Student resources.

View the Student Choice National Webinar Series. These webinars provide helpful guidance in many areas of college preparation and financial aid assistance. These webinars for both students and parents assist with many of the higher education readiness steps. Topics include everything from planning for college, filling out the FAFSA, deciphering financial aid, refinancing student loans, and more. Also, you can visit for additional help with the financial aid process, finding grants and scholarships, and completing the FAFSA (Free Application for Federal Student Aid.) Parents and students may also feel free to browse our frequently asked questions page to answer most of your questions ahead of time.

Who is eligible for a private student loan?

Undergraduates who are U.S. citizens or permanent aliens enrolled at least half-time in a four-year degree program at an approved public or private non-profit school are eligible for a private student loan. You must be a member of Money Federal Credit Union. If you are not a current member, you may apply for a loan and then become a member. It only takes $5 to open an account and join our credit union family! To have an account and student loan with Money Federal Credit Union, the student must reside, work, or attend school in our local area. Our local regions include Onondaga, Oswego, Cayuga, or Madison County. Additionally, you can also be eligible to join our credit union if an immediate family member already has an account with Money FCU.

Is my school approved under Money FCU’s student loans?

There are currently 1,795 schools approved for undergraduate private loan funding, but the list is growing. You may quickly and easily check our approved school database online anytime. Enter the state for a complete list of all approved schools in that state or type the specific school’s name to see if that college is on our list of accepted schools.

All you need to know about consolidating or refinancing student loans.

Take control of your student loan debt with fixed-rate refinancing. By refinancing and consolidating, you combine all outstanding student loans into one new loan and set up one convenient monthly payment with a potentially lower interest rate. The best times to refinance is when the interest rate is lower, or the new lender’s repayment options fit your lifestyle better than your current lender’s loan terms. See if Money FCU can help you consolidate or refinance today.

The Credit Union is where I got my start and has always taken good care of me despite moving 10 different times.

Bruce – Tallahassee, FL
credit union testimonial Kelli

You guys are always so friendly when I call, I love calling all of you because you’re always so upbeat and nice!

Kelli – DeWitt, NY

I started banking with you in 2000, almost 19 years ago. Best bank ever, I moved to CA and you made banking easy when doing electronic banking wasn’t really popular yet.

Jesse – Syracuse, NY

Everything, anything you guys do with me is done 200%. I KNOW that you’ve got my back.  Thank you for this, and for everything you help me with. I truly appreciate it.

Marian – Mahopac, NY

I commend your staff; they are always very pleasant and willing to assist my needs.  Customer Service is very important to me and the credit union definitely shines in this area.

Kathy – Clay, NY

This is by far the best credit union, you guys are so good, you’re always on top of everything and you make me feel like my account is safe.

Regina – Phoenix, NY

I do not say it often enough, but you have great staff!  Nothing is ever a problem, they are terrific!  Amy just helped me out big time and Debbie is always my #1 at the credit union.

Jeff – Wake Forest, NC

I just wanted you to know that it is so nice to get a real person when I call in instead of an automated machine.  I really appreciate it.

Anne – Pittsboro, NC

I just LOVE all of you there. People ask me why I use a credit union in Syracuse and I tell them you can’t beat the customer service!

Denise – Monroe, NY

Thank you for watching for fraudulent activity so diligently.  Not only do you notify me when there is suspicious activity, but you are quick to help recover the money.

Sandy – Liverpool, NY

I’ve been in Charlotte for 7 seven years and I will not change banks because of this type of customer service.

Elliot – Charlotte, NC
credit union testimonial Catherine

Thank you MFCU for all the work you do and for really treating your customers like family.

Catherine – Baltimore, MD
credit union testimonial Michelle

I have to say it again – our credit union is absolutely the best! Hands down, no one else even comes close to the exceptional customer service and knowledge that you receive at Money FCU.

Michelle – Syracuse, NY
credit union testimonial Cindy

I told the car dealer I am sure that I want use Money for financing. The difference is only $7.00 per month. You have the very best customer service of any financial institution that I have worked with. Your customer service is worth every penny of the $7 per month and then some!

Cindy – Tully, NY
credit union testimonial Diane

Each representative takes a special interest in any request made, with coordinating efforts by everyone. At a time when I was in transition, MFCU gave attention to what I needed to continue with them, now over 40 years.

Diane – Wilton, CT
credit union testimonial Michael

I have been a member since 1987 and would NEVER, NEVER, EVER leave Money FCU under ANY circumstances!!

Michael – Clifton Park, NY
credit union testimonial Lisa

I wanted to let you know how much I love having Money instead of Chase! You guys have all been amazing since I have opened my account and I am so happy that I switched!!

Lisa – Syracuse, NY
credit union testimonial Henry

I just love Debbie. She’s my hero!

Henry – Gastonia, NC
credit union testomonial Tony

As we are wrapping details around our third vehicle loan inside of a year or so, I just want to say thank you again. Your customer service is off the charts, and you are a pleasure to deal with.

Anthony – Phoenix, NY
credit union testimonial Pat

Thank you to all of you! You girls are so wonderful! I love my credit union.

Pat – Syracuse, NY
credit union testimonial Lisa too

I thought I would take this opportunity to share with you what phenomenal employees you have. We couldn’t be happier to be blessed enough to have found MONEY FCU, and all that this bank encompasses.

Lisa – Baldwinsville, NY
credit union testimonial Angela

I moved everything out of M & T Bank to you because of the service I receive. I just love you guys!

Angela – Manlius, NY
credit union testimonial Robin

MONEY Federal Credit Union is people – a great group of people – who leave no doubt that while they are helping me, I am the most important thing going on that day.

Robin – Chappaqua, NY
credit union testimonial Jason

I am not sure who is working their magic, but without it my wife and I wouldn’t be able to purchase this house we fell in love with in a neighborhood we fell in love with. I truly appreciate everything Money Federal Credit Union does for my family!

Jason – Baldwinsville, NY


Kerry – Ossining, NY
credit union testimonial Erik

I have been a member since around 1992 or so and, even though I no longer work at Mutual of New York I have had nothing but excellent service from EVERYONE and I will never stray.

Erik – East Syracuse, NY

When you walk in the door you are always welcomed with a smile and happy greetings. Nothing is ever hard to do. When I need a loan it’s done and ready for me and I don’t even have to do anything! Just come in and sign!

Deb – Liverpool, NY
credit union testimonial Vera

You guys are the greatest. So professional and up to date with technology!

Vera – Warners, NY
credit union testimonial Danielle

I have been banking with MFCU since I was 17 years old. I left NY and banked with other companies but I came back to MFCU. I am so happy that I did!! Your staff has always been so helpful. I just figured you would want to know that your staff is great and they deserve an extra day off :)

Danielle – East Syracuse, NY
credit union testimonial Eileen

You guys haven’t changed a bit since I opened my account in 1987! You are all still so nice to deal with and I’m glad the changing times hasn’t hardened you into being unappreciative of your members. I now live in NJ and you are the best Credit Union I have ever had the pleasure of doing business with!

Eileen – North Arlington, NJ

I remember when I joined the CU in 1980 and you were located in a closet upstairs, and you would write the number of members and the percentage rate on a chalk board on the wall.

Joanne – Syracuse, NY

I just wanted to let you know that your staff has been so helpful since the move out of the building. The staff is always quick and kind. You said that a Credit Union is much like a Bank…I would say that the Credit Union is much better than a bank. I appreciate you guys!!

Michele – Baldwinsville, NY
credit union testimonial Lisa 3

I just wanted to let you know how awesome you are! I tell anyone who’ll listen about the GREAT customer service I get from the MONEY FCU. With commercial banks becoming less and less friendly and helpful and more and more costly, you guys are the best thing around!

Lisa – East Syracuse, NY
credit union testimonials John

I just went through one of the most painless processes getting a home improvement loan. I couldn’t believe how quick and smoothly everything went. I was quite impressed at the level of service. A special thank you also goes out to Debbie for her efficiency and for being so easy to work with!

John – Camillus, NY

I love you guys, one call and it’s done. Love, love, love you all.

Kathy – Fair Lawn, NJ

I just went through the process of taking out a car loan. If it weren’t for Melissa, I wouldn’t have been able to get things done. I wasn’t sure about what to do for so many things, but Melissa did! She was always there for me, quick, soooooo much help. Lucky for me I was smart enough to join your credit union years ago.

Katie – Syracuse, NY
credit union testimonials Meg

I am so grateful to have such kind and helpful people to work with on my banking needs.

Meg – Webster, NY
credit union testimonial Tom

When our office moved I decided to keep my account with you because I don’t mind the 10 minute drive downtown to deal with you guys because you’re always so helpful and friendly.

Tom – Syracuse, NY

I’m ready to apply for a student loan.

Great, let’s get you started! Apply for a private student loan. Want to learn more about any of our services before applying? Call (315) 671-4000 or chat with our friendly agents. We are ready to answer any of your questions.