Student
There is an easier way! Advantage understands the necessity for student loans and the frustration that the process entails. That's why we provide our members step-by-step guidance to help them with through this process.
Below are links to a variety of very thorough PDF files that will help you gain an understanding of the student loan and financial aid process. There are also links for PDF files of Master Promissory Notes (MPNs) for Federal Stafford and PLUS loans. We encourage you to begin with our Frequently Asked Questions and Quick Reference Guide flyer before moving on to the others.
FAFSA
Apply online:
You will need to be accepted at a school before beginning the financial aid process. Then, obtain a Free Application for Federal Student Aid (FAFSA) form from either the college or high school financial aid office.
In most cases, it is your choice which lender you choose for your government guaranteed student loans. Our hope is that you will seriously consider Advantage Federal Credit Union for your student loan needs. If your school is considered a Direct Lender for government guaranteed student loans, you will only be able to arrange your loans directly with your Financial Aid Office. Before starting the process with us, please verify with your Financial Aid Office whether or not your school is a Direct Lender.
You can initiate the process directly through Advantage by bringing your completed MPN (found on our website), to one of our branch offices. Alternatively, you can work with your financial aid office and complete your MPN, indicating that you want Advantage to be your lender. If you do not work with an Advantage staff member, please be sure that your MPN has our lender information as follows:
Advantage Federal Credit Union
P.O. Box 14440
Rochester , NY 14614
Lender ID # 828051 |
Finally, please keep in mind some SMART reasons to select Advantage as your source for student loans:
- We waive all STAFFORD origination fees. Once your loan is in re-payment, after forty-eight consecutive payments, your interest rate will be reduced by 1%.
Student Consolidation Loans
Advantage is no longer participating in the consolidation of federal education loans. For those interested in consolidating your student loans we recommend contacting Federal Student Aid at 1-800-557-7392 8AM to 8PM (EST) (TDD-1-800-557-7395) or visit their website.
For more information or for step-by-step guidance, stop by one of our branches or call 585.454.5900, ext 5.
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