NEA Parent Loan Program
Use the strength of your credit to secure college funding for your child with a customized private parent loan for college that you control. As an NEA member, you’ll receive an exclusive 0.25% interest rate discount.1
NEA Undergraduate Loan Program
Cover college expenses with a customized private student loan that fits your budget. See if you prequalify for an NEA undergraduate loan today.
Get StartedWe also offer parent loans, graduate loans and student loan refinancing.
In partnership with
overview
Get the extra money you need to get your degree—on your terms
Federal grants and loans for teachers don’t always cover the complete cost of college. The NEA Undergraduate Loan Program offers customizable private student loans designed for educators that can help you fund the difference.
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NEA members are eligible for a special 0.25% interest rate discount.1 - Choose from loan terms of 5, 8, 10, or 15 years.4
- Get an additional 0.25% interest rate discount when you enroll in auto-pay.2
- Choose from four repayment options – full principal and interest, interest only, flat payment and deferred payment.
- Cover up to 100% of the school-certified cost of attendance.3
- There are no origination or application fees, or pre-payment penalties.
how it helps
Take the stress out of paying for college for teachers and educators
Get approved quickly
The NEA Undergraduate Loan Program, in partnership with College Ave Student Loans, allows you to apply online and get your credit decision in as little as three minutes.
Applying for a private student loan?
Adding a cosigner may help. If you are thinking about applying for a private student loan, adding a cosigner may help your chances of being approved and getting a better interest rate.
Save on interest with a special rate reduction
With an exclusive NEA member discount of 0.25%1, plus an additional 0.25% interest rate reduction with auto-pay enrollment,2 you can save on interest over the long-term.
Your bills are covered automatically
Funds are disbursed directly to the school to cover school-certified undergraduate expenses, such as lab fees and dining plans.3
You’re in control of your repayment options
Choose from loan terms of 5, 8, 10, or 15 years4 and pick one of four repayment options: immediate full principal and interest, interest only, flat pay or deferred. You choose what best fits your financial needs.
How It Works
How to apply for a student loan
- Make sure you’re logged in to your NEA Member Benefits account, then click the “Get Started” button to go to the College Ave website.
- On the College Ave website, click the “Apply Now” button and complete the online application. It only takes about three minutes.
- Receive an instant credit decision.
- Upon approval, choose your loan terms.
FAQs
Your questions, answered
A private student loan can help you pay for college expenses if you haven’t already secured funding through scholarships, grants and federal student loans to cover them. The money is directly disbursed to your school to cover approved expenses. Your undergraduate loan payments will begin 6 months after you graduate from an accredited school or if your enrollment drops below half-time. You can start making payments sooner, which can help you save on your overall interest charges.
Qualified applicants can borrow up to 100% of the school-certified cost of attendance, which typically includes expenses such as tuition and fees, books and supplies, room and board, transportation and personal expenses.3
The NEA Undergraduate Loan, offered in partnership with College Ave Student Loans, was designed to help you or your child pay for college expenses as easily and inexpensively as possible.1 As an NEA member, you’ll get a 0.25% reduction on your interest rate. You can reduce your interest rate by an additional 0.25% (subject to additional terms) if you select an automatic payment method from your checking or savings account.2
You can apply for the NEA Undergraduate Loan by logging in to this site and clicking on the “Get Started” button above. You’ll be directed to the College Ave Student Loans website, where you’ll be asked to enter information about yourself and your loan needs. (College Ave does not take applications by phone because required disclosures are presented during the online application process.)
You can apply and get your credit decision within 3 minutes. As soon as you’re approved, you’ll be asked to accept your terms and e-sign your loan documents. College Ave will send the loan to the school for certification, which can take a few days or even a few weeks, although that’s less common. Once College Ave receives the certification from the school, funds will be sent according to the school’s requested timeline.
A private student loan can fund a semester, a quarter, or up to a full academic year at a time. During the application process, you’ll indicate the time period you want the loan to cover. Each loan is separate: If you take out multiple loans over the course of your undergraduate education, they won’t be automatically combined.
If you have limited credit history and income, you’ll need a cosigner who has good, established credit to be eligible for a private student loan. College Ave’s free credit pre-qualification tool will tell you whether you qualify for a loan and what interest rate you can expect from us before you apply—without impacting your credit score. Pre-qualification isn’t a full review or guarantee, but it can help you decide if you want to submit a full application.
A cosigner agrees to take equal responsibility for the loan. That means that if the student borrower isn’t able to make the payments, the cosigner is legally obligated to pay the loan back. Either one of you can make the required monthly payments.
Enter the $1,000 Scholarship Giveaway!
NEA Member Benefits has teamed up with College Ave to offer NEA members a chance to win $1,000 cash!
Terms & Conditions
1. NEA members receive a 0.25% interest rate reduction on Undergraduate loans that are opened through the NEA member benefits portal. The NEA member discount will be applied to your loan account after the initial disbursement occurs.
2. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
3. As certified by your school and less any other financial aid you might receive; minimum $1,000.
4. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
The NEA Undergraduate Loan is provided by College Ave Student Loans. College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.