School Loans + Scholarships

Start strong. Climb your mountain.

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It takes effort to achieve anything worthwhile. But with the right resources in hand, obstacles can be overcome. That’s why Allegacy offers school loans* and scholarships – to give you the power to scale that cliff and get started on the road to your future.

School Loans

You’re investing in your future – we believe in that. We also understand that where school is concerned, it can be really difficult to make the numbers add up. An Allegacy School Loan may be just what you need to make it work.

  • Maximum Borrow Amount

     

    Maximum Borrow Amount

     

  • Enrollment Requirement

     

    Enrollment Requirement

     

  • Repayment Terms

    Repayment Terms

  • Monthly Payments

    Monthly Payments

  • Membership Requirements

    Membership Requirements

  • Competitive Rate

     

    Competitive Rate

     

Apply for a School Loan
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College Loan

  • Maximum Borrow Amount

     

    • Up to $5,000 per Year
    • Maximum of $20,000 over 5 Years
  • Enrollment Requirement

     

    • Minimum of 6 credit hours at an accredited school
  • Repayment Terms

    • Begins 6 months after departure or once the loan becomes 5 years of age
    • Loan converted to monthly payments for up to 10 years based on the loan amount
  • Monthly Payments

    • Accrued interest + payment protection (if applicable) while in school
  • Membership Requirements

    • Both student + co-signer (if required) must be Allegacy members
  • Competitive Rate

     

    • As low as as low as 6.75%* APR*
Apply for a School Loan
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Student Loan

  • Maximum Borrow Amount

     

    • Up to $7,000
  • Enrollment Requirement

     

    • Minimum of 3 credit hours at an accredited school, vocational school or a trade school
  • Repayment Terms

    • Begins 6 months after departure or once the loan becomes 2 years of age
    • The loan may be deferred for up to 2 years while in school
    • Loan converted to monthly payments for up to 10 years based on the loan amount
  • Monthly Payments

    • Accrued interest + payment protection (if applicable) while in school
  • Membership Requirements

    • Both student + co-signer (if required) must be Allegacy members
  • Competitive Rate

     

    • As low as as low as 9.75% APR*
Apply for a School Loan
Apply Now!
Apply for a School Loan
Apply Now!

Scholarships

If you’re an Allegacy member pursuing an undergraduate degree, the Mel Hughes Scholarship Program may be able to provide financial assistance. For those who apply but aren’t selected, the Carolinas Credit Union Foundation General Fund Scholarship offers another option.

Application period lasts from October to February and all applicants are notified in early May each year.

Generous Award Amount

  • Mel Hughes provides four $1,300 scholarships to college or university students
  • Mel Hughes also provides four $250 scholarships to tech and community college students

 

Eligibility + Process

  • To apply for a Mel Hughes scholarship, you must be a primary Allegacy member with your own savings account
  • The applicant must be a full-time college student enrolled in at least 12 semester hours, or a high school senior accepted on a full-time basis at an accredited post-secondary institution

Calculators to help you plan for your future

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