Undergraduate Eligibility

Undergraduate students who are:

• U.S. citizens or permanent residents (non-resident students are NOT eligible)

• At least the age of majority in your state of residence. Please note, in most states, you must be at least 18 years old. You must be 19 years old in Alabama. You must be 21 years old in Mississippi and Puerto Rico. If you are not the age of majority in your state you may qualify with a co-borrower who is or other unique circumstance that would allow you to qualify.

• Continually enrolled in a degree-granting program and meeting the school’s minimum Satisfactory Academic Progress (SAP) criteria.
  Should you withdraw during any term or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.

  • For fall and spring terms, you must be enrolled at least half-time.
    • You may be enrolled less than half-time during fall and spring terms only if you were enrolled at least half-time the prior semester and hold senior status at either a four year, eligible, degree granting undergraduate or graduate program. Otherwise, should you drop below half-time in the fall or spring, your funding request can be denied, your line of credit may close, and you may enter repayment.
  • For summer term, you may be enrolled less than half-time.

• Before applying, make sure to check that your school is included in our listing of approved schools

• Able to meet Elements Financial's standard underwriting criteria (a cosigner may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)

• Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded)