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Two harbors FCU

Student and Other Loans

students loan

Student Loans

Before you Borrow…Don't forget our scholarship program!

THFCU members are eligible for one of four $1,000 scholarships.Learn more and apply on our IN THE COMMUNITY page


Whether you’re an undergraduate or graduate student, student loans from THFCU in partnership with Sallie Mae® could help!

Sallie Mae® higher education loans are designed for the needs of undergraduate and graduate students.

  • Competitive interest rates
  • Multiple repayment options
  • No origination fees; no prepayment penalty*
The Smart Option Student Loan® is for Undergraduate Students while the graduate loan suite is designed to meet the needs of students in specific fields of study.

Find out which loan is right for you – Visit the Sallie Mae site here.

Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

These loans are made by Sallie Mae Bank or a lender partner. Two Harbors Federal Credit Union is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Smart Option Student Loan and graduate loan products: These loans are for students at participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

*Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.


© 2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae

Federal Direct Student Loans

All new federal student loans will be issued via the William D. Ford Direct Loan Program. The lender for federal loans will be the U.S. Department of Education rather than Your Credit Union or other financial institutions.


You may have the opportunity to consolidate your existing loans through the Federal Direct Loan Consolidation Loan Program. Visit the Department of Education Consolidation Loan website

Direct Lending Borrowing Aids

Although THFCU will no longer be funding federal student loans, we would like to continue to assist you in whatever way we can. See one of our staff for more information on what financial aids we offer to students.

For Information on Existing Loans

For questions related to an existing Federal Family Educational Loan (FFEL) secured through THFCU, contact us at (218) 834-2266.

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

Other Loans

Click Go there to view our current loan rates.

We provide financing to move you forward.

Everyone reaches a point where they need some extra cash to achieve specific goals. We'll save you time with our quick application process while saving you money with affordable rates. Then you can get the money you need for any purpose.

Line of Credit

Take advantage of a revolving loan plan which requires you to apply only once, yet take advances on your credit line as often as you need! Obtain advances up to your specified credit limit with a simple phone call or by using our automated services. Your funds can be transferred directly to your account - now that's convenience! Avoid bouncing that check or debit transaction with this handy line of credit designed to kick-in when you have exceeded the balance in your THFCU checking account.

Other personal loans

What are you looking for? If we haven't covered it in any of our other categories we can likely finance it with a personal loan such as; consumer goods, signature, share-secured, single payment loan, holiday cash and more. Contact us for all your consumer needs.
Student Loans

Hours & Location

Mon - Fri 7:30am to 5:30pm

Mon - Fri 8:00am to 5:00pm

Located at:
801 11th Street
Two Harbors, MN 55616

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Note that you are now departing the Two Harbors Federal Credit Union website.
Two Harbors Federal Credit Union is not responsible for accuracy, security, content, or services offered by other websites; we encourage you to view privacy & security disclosures of all websites you visit as they may be different than those of Two Harbors Federal Credit Union.
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