Your savings federally insured to at least
$250,000 and backed by the full faith
and 
Need help? Call us at 800.662.2772The costs of college just keeps rising and rising.
The key to funding an education is to start early and save regularly. But no matter what the age of your child, MCU offers a variety of ways to help pay for a college education.
Start Saving Today for Your Child’s Education Tomorrow
Coverdell Education IRA
Save for tuition, books, housing, etc, and when it’s time to use that money, the disbursements are tax free.
College-Bound 1-Year Certificate
Because this savings certificate allows deposits of $50 or more, it’s the perfect vehicle for your teens to save birthday money and babysitting earnings for college expenses.
Financial Planning
MCU offers free financial planning, including college planning. Learn more about what our Investment Adviser located at MCU offers, including 529 plans.
Need Money for College Today?
In case the cost of college snuck up on you too soon, and you didn't get quite enough saved to cover the full expense, consider these options offered by MCU:
Federal Stafford and Plus Loans
Federal Student Loans are the most affordable loans available to students, with the best interest rates and deferred payments (principal and interest) until after graduation.
Please note: With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, like MCU, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans. Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program. Contact your school’s financial aid office for more information.
Student Choice Student Loans
With the cost of education on the rise, the gap between college cost and available financial aid is growing wider every year. .
As a result, many families have had to resort to higher cost private student loans to fill the funding gap. Here is where MCU can help.
With our Credit Union Student Choice private loan program,
students will be able to achieve their dream of a higher education, without the higher price tag.
Home Equity Loan
You can use the equity in your home to pay for education expenses and the interest you pay may be tax deductible (always consult your tax advisor first). MCU offers both Home Equity Fixed Rate Loans and Lines of Credit.
Packing Up for College
Computer
Clothes
TV
Money Management
How will your student manage money away from home?
MCU StartPoint student checking that includes free online banking, mobile banking, and eAlerts sent to a wireless phone.
Student Resources for Money Management
Don’t let financial concerns get in the way of your teen’s studies. Prep them before they go off to college with Finances for College Students online money management course from BALANCE, MCU’s financial fitness partner. The course is also available as a podcast.
Other helpful articles from MCU and BALANCE
- Adult Education: How to Pay for the Privilege of Learning
- Coverdell Education Savings Accounts
- 529 Plans: the Basics
- A Parent’s Guide to Financial Aid
Need help? Call us at 800.662.2772
