NEA Graduate Loan Program

Cover grad school expenses with a customized private student loan that fits your budget

In partnership with

overview

Get the extra money you need for postgraduate education—on your terms

Federal grants and loans don’t always cover the complete costs of higher education. The NEA Graduate Loan Program offers teachers and educators customizable private student loans that can help graduate students and future teachers bridge the gap.

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

Terms that help you manage the high cost of a graduate education

Get approved quickly

The NEA Graduate 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 graduate 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 graduate student loan

Make sure you’re logged in to your NEA Member Benefits account, then click the “Get Your Student Loan Today” 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

How do student loans work?

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 graduate school 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.

What can I use a private student loan to pay for?

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

Why should I choose the NEA Graduate Loan?

The NEA Graduate Loan, offered in conjunction 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

How do I apply for a student loan?

You can apply for the NEA Graduate Loan by logging in to this site and clicking on the “Get Your Student Loan Today” 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 cannot take applications by phone because required disclosures are presented during the online application process.)

How long does the application and approval process take?

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.

How much money can I borrow?

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 graduate school education, they won’t be automatically combined.

Do I need a cosigner?

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.

What are a cosigner’s responsibilities?

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.

NEA Undergraduate Loan Program

Create your own customized, private student loan that fits your budget. Get help paying for college expenses that financial aid may not fully cover. Plus, as an NEA member, you’ll receive an exclusive 0.25% interest rate discount.¹

Learn More

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

Learn More

Terms & Conditions

1. NEA members receive a 0.25% interest rate reduction on Graduate 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 first year graduate student 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 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. 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 Graduate 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.

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