CU Student Choice professional degree financing starts at two credit unions

CU Student Choice has launched private, credit-union-funded professional-degree lines of credit through Langley Federal Credit Union and Elements Financial, its first participating institutions. The CU Student Choice professional degree financing rollout arrives after federal rules ended Grad PLUS eligibility for new borrowers on July 1 and set new Direct Loan caps for graduate and professional students.

The products are intended for eligible students in fields including medicine, dentistry and law. CU Student Choice expects about a dozen further credit unions to introduce professional-degree offerings within 45 days, a company projection that would widen the availability of private education finance as federal borrowing capacity is curtailed.

The federal shift is material for students starting programmes after the July deadline. The Education Department says graduate students are now subject to annual and aggregate Direct Loan limits of $20,500 and $100,000, respectively. The corresponding limits for professional students are $50,000 a year and $200,000 in total. Grad PLUS had previously allowed graduate borrowers to finance up to their cost of attendance, less other aid.

How do CU Student Choice professional degree credit lines work?

Rather than applying for a separate private student loan each academic year, an eligible borrower applies once for a line and may draw funds across multiple academic years. Each year remains subject to review and credit approval. That structure makes the facility a private revolving source of education funding, not a federal loan, and the amount available, eligibility and terms vary by participating credit union and product.

The professional-degree line of credit programmes may cover tuition, fees, books, housing and other qualified education expenses, depending on their terms. CU Student Choice says participating programmes have no origination fees or prepayment penalties, and offer repayment terms of up to 25 years, depending on the credit union and product. Some programmes include residency deferment and residency loans for eligible medical students.

Initial distribution differs between the two lenders. Langley’s programme serves eligible students at selected Virginia medical and law schools, including programmes at Eastern Virginia Medical School at Old Dominion University, the University of Virginia and Virginia Commonwealth University. Elements’ offerings are available to students attending eligible schools nationwide.

Who can still use Grad PLUS loans?

The disappearance of Grad PLUS does not apply uniformly to continuing students. Under the Education Department’s interim exception, a student must have been enrolled in the same programme by June 30, 2026 and have received a Direct Loan for it before July 1 to retain the earlier rules, including Grad PLUS access.

That exception lasts only for the expected time to credential: the lesser of three academic years or the remaining published programme length after time completed before July 1 is taken into account. Students considering private lines therefore face a different federal funding position depending on when they enrolled and whether they meet those conditions.