Higher education can be costly, so make sure you've done your homework when it comes to the cost of college and options for student aid. You should exhaust every option for financial aid and federal student loans before you consider a private student loan. Read more about how financial aid works and fill out your FASFA form here on the U.S. Department of Education website.
To bridge the gap between the costs of higher education and your financial aid, we've partnered with Earnest to bring you affordable and flexible student loan solutions to power your higher education.
Going Merry - Scholarships and FASFA Application
Before you utilize student loans, make sure you've exhausted your options for scholarships by utilizing a free service, Going Merry. This tool will allow you to search for scholarships you may be eligible for and apply, all in one easy to use online service.
The borrowing process for higher-education always begins with the Free Application for Federal Student Aid (FASFA) at the U.S. Department of Education website, studentaid.gov. Make sure you submit your FASFA before the annual deadline for the academic year in which you would like to attend school. You may also use the Going Merry service to help submit your FASFA!
Once you have completed your FASFA and utilized federal options for aid and student loans, through our partnership with Earnest, TowpathCU can help fill any remaining funding needs for your higher-education!
- Lower rates: Low rates, no fees, including late fees or disbursement fees.
- Customizable: Pick your payment and loan term.
- Autopay Discount: Save 0.25% with Auto Pay discount
- Skip A Payment: Skip a payment once a year
- Client Happiness: Talk, email, or chat with a member of the Earnest client happiness team
Loan Eligibility criteria: Eligible students must: 1) For college Freshmen, Sophomores and Juniors, attend, or be enrolled to attend, a Title IV school full-time. For college Seniors and Graduate students, attend, or be enrolled to attend, a Title IV school at least half-time; and 2) be pursuing a Bachelor’s or Graduate degree. Earnest private student loans are subject to credit qualification, completion of a loan application, verification of application information, self-certification of loan amount, and school certification. Terms and Conditions apply. Earnest reserves the right to modify or discontinue the terms of this program at any time without notice. Before applying for private student loans, it's best to maximize your other sources of financial aid first. It's recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don't have to pay back, like scholarships, grant and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans. Federal student loans do not require a credit check or cosigner, and offer various protections if you're struggling with payments. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at https://studentaid.ed.gov.
Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. nmlsconsumeraccess.org © 2022 Earnest LLC. All rights reserved.