Edu Loan – TECU’s Education Loan

Are you looking for an education loan to assist with the expenses for you or a loved one’s education? Look no further because TECU is here for you!

Edu Loan is an education loan of up to $150K, designed to help you cover the expense for you or a loved one’s education without worrying about the financial burden. 

As a member-owned financial institution, we are committed to supporting our members’ education goals and aspirations. With Edu Loan, you have three repayment options: 

1. Payment to begin immediately upon approval of the loan, based on the member’s ability to repay the loan. 

2. Payment of interest only from inception of the loan, with deferred principal payments up until six (6) months after the completion of studies.

3. Deferred payment to begin six (6) months after completion of studies. 

*If you choose to defer your payments, a co-borrower is required unless you can qualify individually. The co-borrower is a member who is co-signing on the loan with the borrower and agrees to repay the debt should the borrower default. 

What does Edu Loan cover?


This loan covers tuition, books, uniforms, and fees; and can be used to service education expenses at all levels:

  •  Pre-primary, Primary, and Secondary Level
  • Tertiary Level (Diplomas, Associate’s, Undergraduate, Postgraduate, Graduate Certificates, and Doctoral Degrees)
  • Technical/Vocational
  • Professional Certification or Continuing Education
  • Webinars, Short Courses, and Certificates 
Students, parents, and guardians – if you are looking for a better way to finance your education expenses, apply for our Edu Loan today and level up your success.  
TECU members in seminar

Interest Rate*


* All Interest rates calculated on reducing balance. All rates are subject to change without notice.

Maximum Repayment Period

7 years

Loan Ceiling

Up to $150,000.00

Loan Requirements

  • Two forms of valid ID.
  • Proof of address.
  • Supporting document for the purpose of loan.
  • Required share balance 10-15%, based on a risk rating assessment. 

Loan Protection

TECU’s loans are fully insured by our Loan Protection plan. Upon death loans are insured as follows:

1-75 years$150,000.00
76-80 years$75,000.00
81-85 years$37,500.00
86 years and over$0.00

Call us today for up-to-date rates. Ask for a Loans Officer, who will be more than willing to assist you.

Ready to apply?

Apply for an Edu Loan online.

Make an appointment with a Lending Specialist.

How much can I borrow?

With our borrowing power calculator, you can estimate how much you can borrow and what your repayments would be.

Note: Mobile and tablet users may experience minor

usability issues with the calculators.

Helpful hints in securing a loan

Happy female member chatting with a helpful TECU officer at a counter

Build your borrowing capacity

TECU Credit Union partners with you to make achieving all of life’s goals a reality. Our character and other loans are assessed based on your ability to service a loan in addition to the following credit worthy aspects:
  • Present shareholding and frequency of contribution towards shares
  • Assets such as property, vehicles, savings at other financial institutions and Liabilities i.e. other loans/ debts
  • Employment status and history
  • Your Shareholding and share buildup within the credit union
  • Your Share to Loan Ratio, which is your total shares divided by the total loans that are currently outstanding (Shares/Loans)
  • Your existing loan balance and your indebtedness
  • Savings, Borrowing and Repayment History within the credit union
  • The primary purpose of the loan
  • Your age, current salary, employment status and duration of membership
  • The availability of adequate and marketable security and other assets
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