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TLC Community Home > Loan
Products > Student Loans
 Make College a Reality
.gif) Lender Code: 829205
Our members know the value of a college education.
College graduates make an average of one million dollars more than those without college degrees (www.studentloanfacts.org). But, because the cost of a university, technical college, other specialized training can be overwhelming, TLC Community Credit Union offers Federal Family Education Loan Program (FFELP). These member exclusive loans can help you with the funding you need to pursue your dreams.
TLC Community Credit Union and FFELP offers loans for students and parents.
Stafford Loans
- The subsidized Federal Stafford Loan is based on financial need. The government pays the interest while you are in school.
- The unsubsidized Federal Stafford Loan is not based on need but family income is a determining factor. You pay all the interest, although you can have the payments deferred until after graduation.
Parent PLUS/Grad PLUS Loans
- Creditworthy parents of dependent undergraduate students and graduate/professional students can apply for this loan, which is not based on need.
Please note: If your school participates exclusively with the US Government's Direct Loan program, TLC MAY NOT be able to fund your loan. Please check with your school for loan vendor options.
Learn more about low-interest federal student loans.
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Current rates
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Loan limits
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Borrower fees
How to obtain a federal student loan. 
1. Complete a FAFSA
Before you begin applying for a Stafford and/or PLUS Loan, complete the Free Application for Federal Student Aid (FAFSA). It must be completed for each academic year that you request federal aid. FAFSAs for the upcoming academic year are available online on or after January 2. Contact your school for their application deadline.
2. Receive your SAR
Once your FAFSA is processed, a Student Aid Report (SAR) is created. If you completed your FAFSA online, allow 1-2 weeks for you and your school to receive the SAR electronically. Paper FAFSAs take 6-8 weeks to process.
3. Receive your Award Letter
Your school(s) use data from your SAR to determine your financial aid award for the current academic year and send you an award letter by e-mail or US Mail. (If your letter mentions the William D. Ford Direct Lending Program, contact your school for the appropriate promissory note.)
4. Complete a Master Promissory Note
Apply fast and easy on-line and receive answers to frequently asked questions.
.gif) Apply Now for a Federal Stafford Loan
 Apply Now for a Federal PLUS (Parent) Loan
 Apply Now for a Federal Graduate/Professional PLUS Loan
 5. Your School completes the School Certification Form
Your school must complete a School Certification Form indicating the loan amount and disbursement dates. It is suggested that you stay in contact with your school to determine their timeline to certify and to expedite the completion of the form. The completed form should be sent to the loan servicer and guarantor, Great Lakes.
6. Your School will Receive the Funds
Upon receipt of the school certification form, verification of credit union membership, and credit approval for Parent PLUS/Grad PLUS borrowers, the loan will be guaranteed within 24 hours. Funds will be sent to the school on the date the school has indicated.
7. Access Your Loan Account Online
To check the status of your loan, view your account information and make payments from your bank account 24/7, and find information to help you manage your loan, go to www.mygreatlakes.org, Choose ”Borrowers” and then log in to access Applications in Progress (AIP) and Internet Borrower Inquiry Service (IBIS).
8. Call These Toll-free Numbers for Loan Inquiries
· BEFORE your loan is disbursed to the school:
· AFTER your loan is disbursed to the school:
 Additional Resources
Need help?
For help with the student loan process, call the credit union at (517) 263-9120 or email requests@tlccu.org.
Career Transition Program (CTP)
A job loss may be a good opportunity to reassess your career. TLC Community Credit Union has unsecured educational loans to for members primarily affected by Michigan's unprecedented job losses in the manufacturing sector.
- You must be at least 21 years old and have had a minimum of two years prior full-time work experience.
- Fixed-rate loan
- Possible financing up to a maximum of 10 years
- No payments for 24 months
- Interest rate set at .50% below Stafford loan rate
- Possible textbook reimbursement through Michigan Works. Contact Michigan Works at 1-800-285-WORKS
For more information about the Career Transition Program, phone TLC at 517-263-9120, stop by any of our five convenient branches or visit www.ctpforcumembers.org.
Manage your finances.
TLC Community Credit Union and Great Lakes are committed to helping students learn to manage their finances. The regularly updated Personal Financial Management Resources provides information on anticipating college costs and staying in control of your finances while in school.
After graduation, consolidating your student loans is an option.
After you graduate, you can consolidate your student loans, even if you only have one. Contact a Great Lakes Consolidation Representative by calling 1-800-950-0152 to determine if consolidation is in your best interest. If you wish to consolidate your eligible loans and they have a total balance that exceeds the minimum requirements, you may consolidate online using Great Lakes Consolidation Loan Assistant.
Plan your future. Visit these Web sites.
www.mappingyourfuture.biz - Detailed information about career planning, selecting a school, and paying for college.
www.finaid.org - Guide to student financial aid and scholarship search services.
www.collegeplan.org - Information on college selection, admissions, financial aid and scholarships.
www.embark.com - Offers powerful college search tools, useful links, expert advice and guidance from an experienced college panel.
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