What are the requirements and qualifications for a private student loan?
To qualify for a private student loan you must: • Be the legal age (age of majority) in the state you reside. • Apply on your own or with a co-borrower. Because private student loans are credit-based, applying with a creditworthy co-borrower may increase the likelihood of your approval and may help you get a lower rate. • The borrower must be BECU member before loan will fund. • Student Borrower: Must be one of the following: • U.S. citizen • Be a U.S. permanent resident that holds valid proof of residency (I-151 or I-551 cards). • Be an undergraduate student enrolled in or attending an eligible institution at least half-time in a degree or certificate program. View a complete list of participating schools. • Be enrolled in an eligible program (graduate programs or degrees are not eligible). • Meet all of BECU’s underwriting requirements for borrowers and co-borrowers.
