Student Loans for New Students or Adults Returning to College

There have been some recent changes to student loan programs. Telhio is ready to help our members find the student loan options that work best for their academic dreams!

With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (HR 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, such as Telhio Credit Union, no longer have a role in originating or funding federal Stafford, PLUS, or Consolidation loans.

However, we know that our members need help and guidance in selecting loan products that are right for them. Please review the information below and refer to the contacts provided to find a student loan product that can help you achieve your academic dreams!

You can contact a member of our Investment Team to discuss your personal college savings needs and access online resources such as Affordable Colleges Online, which offers a 529 College Savings Plan Online Guidebook. Other sources of college loans and funding include:

Federal Direct Student Loans
All new federal student loans will be issued via the William D. Ford Direct Loan Program. The lender for your federal loans will be the U.S. Department of Education rather than your credit union or other financial institutions.

Stafford and PLUS Loans
Visit the Department of Education website for information about Federal Direct Stafford and PLUS loans. It is suggested that you stay in close contact with your school's Financial Aid Office to apply and monitor application status of your student loan.

Student Consolidation Loans
You may have the opportunity to consolidate your existing loans and student loans through the Federal Direct Loan Consolidation Program. To view consolidation loan detail, visit the Department of Education Consolidation Loan website.

Direct Lending Borrower Aids
Although Telhio Credit Union will no longer be funding federal student loans, we would like to continue assisting you in whatever way we can.

For Information on Existing Student Loans
For questions or service related to an existing Federal Family Educational Loan secured through our credit union, contact Great Lakes (our chosen servicer) at 1-800-236-4300 or access your account information online at www.mygreatlakes.com.

For questions regarding who holds or services your existing federal student loan(s), please access the National Student Loan Database, which is a Department of Education central database for student aid.