Student Loans and Scholarships

Student Loans

Allegacy's Student Loan Program

• Both student (and cosigner, if required) must be Allegacy members
• Student must be enrolled at least part time (6 credit hours) at a school accredited in the state in which it is domiciled
• Accrued interest and insurance premiums, if applicable, are due at the end of each plan year on July 31st
• Repayment begins within 6 months after graduation or upon departure from school
• Upon repayment, the Supplemental Student loan is converted to monthly payments for a period of up to 10 years

Scholarships

All applicants for the following scholarships (including students) MUST be members of Allegacy Federal Credit Union.

Mel Hughes Scholarship Program

This annual scholarship program provides educational assistance to members for post-secondary (undergraduate) education. Four $1,300 scholarships for college/university students and four $250 scholarships for community/technical school students are awarded annually. The applicant must be a full-time student enrolled at least 12 semester hours or a high school senior accepted on a full-time basis, at an accredited post-secondary institution. Our application period is from November through February.

You can download and print the Mel Hughes Scholarship Application now. You will need to have the free Adobe Acrobat Reader installed on your computer to view the application. If you are not yet an Allegacy member, please fill out the membership application which will print with the scholarship application, and return them together. Current members can ignore the membership application. Application will be due for selection by February 12, 2010.

Carolinas Credit Union Foundation General Fund Scholarship

If you apply for, but are not selected to receive a Mel Hughes Scholarship, your application will be automatically submitted for consideration of a General Fund Scholarship (eligible in any state).

For more information about our scholarships, please email Student Loan Services at studentloans@allegacyfcu.org. You may also call (336) 774-4138 or (800) 782-4670 ext. 4138.