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Mobiloil Credit Union

College Planning


Who says college isn’t the real world? The “real world” is filled with tough choices, hard work, large expenses and goal setting – all of these are important realities of a higher education. We know you’re stepping into the real world and we’ve got a real program for you.


Do I qualify for financial aid? How much can I get? Where do I go to get started?

These are probably some of the questions you may be asking yourself right now. Don’t worry, we’re here to help! There are many financial aid programs to help you afford the education you desire. Programs range from free grants to loans for those with or without credit history. Remember, you may be eligible for more than one program, so apply early to maximize the amount of aid you may be awarded!

Questions? Contact your high school guidance counselor, college financial aid officer or a MOFCU Representative for more information.

How to apply for Federal Student Aid in four easy steps

Step 1: Pick up an application now! You can pick up a Free application for Federal Student Aid (FAFSA) from your high school guidance counselor. From the family financial information your family supplies on the FAFSA, the federal government will determine your eligibility for financial aid programs such as:

  • Federal grants (do not have to be repaid)
  • Federal work-study (qualifies a student to work part-time on campus)
  • Federal loan programs (low-interest and interest deferred loan options offered through Mobiloil Federal Credit Union)

Step 2: Complete the FAFSA early. Since there is heavy competition for dollars, we recommend filing your FAFSA ASAP. Avoid sending an incomplete form since it may be returned to you, causing your application to be delayed. If you have questions about how to fill out the form, contact your high school guidance counselor or your college financial aid office. A Student Aid Report (SAR), summarizing the programs you qualify for, is mailed to you generally within four to six weeks.

Step 3: Submit the SAR to the school you plan to attend. The school will let you know which programs you qualify for in an “award” letter. However, you may need to complete additional applications and/or paperwork in order to receive the funds.

Step 4: Your Award Letter may indicate whether or not you may need student loans.

Questions? Contact your high school guidance counselor or college financial aid officer for more information.


The Federal Stafford Loan is a part of a family of loans under the Federal Family Education Loan (FFEL) program as authorized by the federal government. The FFEL program consists of the Federal Stafford Loan and the Federal Plus Loan. These loans are backed by the federal government and guaranteed by guarantee agencies, such as Mobiloil Federal Credit Union. The Federal Stafford loan provides low interest loans to help pay the costs of attending post-secondary schools.


PLUS Loans enable parents with good credit histories to borrow to pay the education expenses of each child who is a dependent and an undergraduate student enrolled at least half time in an approved College or University. PLUS Loans are available through the FFEL program.

  • A Federal PLUS Loan allows parents to borrow the total cost of undergraduate education including tuition, room and board, supplies, lab expenses and travel less any other aid.
  • These loans are not based on need.
  • PLUS interest is variable, adjusted annually by the Department of Education.
  • PLUS loans do not require collateral.
  • PLUS interest may be tax deductible.

The Primary benefit of the PLUS loan is that parents can borrow federally guaranteed, low interest loans to help pay for their child’s education.

Click here for a list of FAQ’s

Have a question? Contact us online, give us a call at 409.892.1111, Toll Free at 800.892.1111 or stop by a location close to you for any questions you may have. We’re here to help.