Student Loans

The beginning of your college career is one of the most exciting and important times in your life. There are many important choices to make, and who you choose to service your student loans¹ is one of them.

STUDENT LOAN TYPES

We have partnered with Sallie Mae®¹ to offer various student loans to cover multiple education types.

Undergraduate
Masters
Loans for parents
Medical School
Dental School
Law School
Loans for the bar exam

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STUDENT LOAN INFO

Every student has a different story, and everyone’s plan is different. Our student loans are designed to be tailored to your needs.

Competitive interest rates
Variable and fixed-rate options
Multiple repayment options
No origination fees; no prepayment penalty

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Educational Savings Account²

Save before your child starts college or trade school with our Educational Savings Account!

A college or trade school education can offer job opportunities, important skillsets, and increased wages, but these benefits of education are expensive as tuition, books, and dorm fees increase each year. Our Educational Savings Account lets you be prepared for future education expenses.

The Educational Savings Account is an dividend-earning savings account for use on future education costs. The account must be open for a minimum of three years and is paid out on the child’s first day of college or 18th birthday, whichever comes first. Any withdrawal from the Educational Savings Account before these dates will close the account and result in a penalty (some exceptions may apply.)

Open an Educational Savings Account over the phone or at any of our branches.

Branch Locations VIEW RATES

GRANDPARENTS, FAMILY AND FRIENDS CAN HELP!

Educational Savings Account

As college and trade school tuition becomes more expensive, family and family friends are stepping up to help cover the costs. Grandparents, godparents, uncles, aunts and close family friends want to help their young students get the opportunity to further their education. KTVAECU makes it easy with our Educational Savings Account. When you open this account, grandparents, parents, family and family friends can make regular deposits anytime to make sure their loved ones are are prepared for future tuition needs.

BRANCH LOCATIONS

U-Name-It Savings Account³

An U-Name-It Savings Account is the perfect account if you want to save for higher education costs and to have access to the money at any time! This account works like a regular savings account, but you can name it anything to help differentiate it from your other savings accounts. Give it a name like “College Savings” and watch the funds grow!

GET STARTED WITH U-NAME-IT SAVINGS

Tips for Parents

START EARLY
It’s never too early to start saving for higher education costs! One of the easiest ways to save larger amounts of money is to start sooner.

FOLLOW ONE-THIRD RULE
If you don’t think you’ll be able to cover the total cost of college, try following the one-third rule. With the one-third rule, you pay a third of college costs with your savings, one-third with your current income, and one-third with student loans.

TREAT SAVING LIKE A BILL
Decide an amount you would like to deposit into your child’s college fund each month and commit to depositing that amount each month without fail, just like you would pay a bill. If you keep this attitude, you are likely to be more consistent and save more, faster.

Tips for Students

GET A PART-TIME JOB

One of the best ways to save money for college is to get a part-time job. This can be at a grocery store, restaurant, or any other hourly position. There are also opportunities like babysitting, dog-sitting, or mowing lawns.

LIMIT SENIOR YEAR CELEBRATIONS
While graduation parties and senior trips can be a lot of fun, they can also rack up a large price tag. If you make cuts to these budgets you can use that money to cover some of your college costs, while still celebrating all your accomplishments.

APPLY FOR SCHOLARSHIPS
You’ll never know unless you try! Apply for all scholarships you're eligible for and more. Even if they are smaller amounts, they add up in the end!

Estimating College Costs

It’s hard to know just how much you will need for your child’s education, especially if their college start date is years away.

Use our savings calculator to get an estimate of how much you will need to save.

SAVINGS CALCULATOR Student loan options

¹Borrow responsibly: We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan. These loans are made by Sallie Mae Bank or a lender partner. Knoxville TVA Employees Credit Union is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers. Smart Option Student Loan and graduate loan products: This information is for students attending participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Parent Loan: This information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner, and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note: First to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal. SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.© 2020 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.
²APY = Annual Percentage Yield. Rates current as per posted rate schedule. No minimum opening deposit. Must be open for a minimum of three (3) years and pays out on your child's college entrance date or 18th birthday, whichever comes first. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details.
³APY = Annual Percentage Yield. Available to qualifying Members. Some restrictions may apply. Ask for details. Fees may reduce earnings. Limits on the number of non-signature transactions may be imposed as required by regulation or Credit Union policy. Non-signature transactions may include those made over the phone, via online or telephone banking, or automatically by the Credit Union.

⚠️TEXT MESSAGE SCAM ALERT

Student Loans

STUDENT LOAN INFO

GRANDPARENTS, FAMILY AND FRIENDS CAN HELP!

Educational Savings Account

U-Name-It Savings Account3

U-Name-It Savings Account³