If savings, federal student loans, and scholarships aren’t enough to cover all of your college or graduate school expenses, GenFed can help! We offer private student loans through Sallie Mae® with affordable low rates and flexible repayment options.

GenFed also offers a number of alternative loans that can be used for the purpose of educational funding including home equity loans, using your vehicle as collateral and personal loans.

Borrowers attending degree-granting institutions can take advantage of GenFed’s Smart Option Student Loans® by Sallie Mae.

  • Borrow up to 100% of school-certified cost of attendance*
  • Competitive interest rates
  • No origination fees
  • No prepayment fees
  • 24/7 online account management

We offer a choice of fixed and variable interest rate options, and our rates reward creditworthy borrowers. You may be able to qualify for a lower rate by applying with a creditworthy cosigner.

There are multiple repayment options available, including the option to defer your payments until after graduation, make payments while you’re in school, or start out with interest-only payments.

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Before you decide to apply for a private student loan for yourself or your child, we encourage you to explore financing options such as scholarships, grants, or state and federal student loans.

If you’re preparing to pay for an education, you’ll need to complete a Free Application for Federal Student Aid or FAFSA. For the best results on your FAFSA, answer “yes” to question #33.

When you begin applying for loans, it’s best to apply in this order:

  1. Stafford subsidized – this is a governmental loan where the interest is paid by the government. Payments are normally due after graduation. Loan amount is based on financial need.
  1. Stafford non-subsidized – this is a governmental loan. Payments are normally due after graduation. Loan amount is based on financial need.
  1. PLUS – this is a loan for the parents of a student. Total amount available = cost of education minus Stafford loans minus grants or scholarships. Minimum payments begin when the loan begins.

If you have submitted an application in the past 60 days, please contact your local GenFed branch directly. Multiple submissions can negatively affect your credit history.

Visit Mapping Your Future for free online entrance and exit loan counseling.

Our Co-op Advantage program rewards you based on your total amount of deposit and loan balances with GenFed. Learn more.

We are compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

*As certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. Requested amounts exceeding $99,999 may require multiple loans.