Personal Loans for Teachers

From unexpected expenses to planning for college, and everything in between — Suncoast has personal loans to make your cash flow a little easier.


Does Your Credit History Impact Your Chances of Getting a Personal Loan?


Yes – your credit history impacts whether you can get a personal loan. Your personal loan options will be hindered if you have a poor credit score or little credit history. Things like late payments, bankruptcy, and a high amount of debt will lower your credit score. You can check your credit rating with a credit bureau to see what range your score falls within:


629 and under: poor credit


630 – 689: fair credit


690 – 719: good credit


720 and above: excellent credit


While poor credit won’t necessarily stop you from getting a loan, it might make it more challenging, and it’s important to note that bad credit may result in lenders offering you higher interest rates. As a result, you can expect higher monthly payments each month. It's best to keep a good credit score as often as possible to ensure easier borrowing when the time calls for it.

Who are Teacher Loans for? 

Teacher loans are for any educators, whether you teach middle school, high school, or college students. Perhaps you’re a high school math teacher who needs a loan to pay for your graduate degree, or maybe you’re a professor who needs additional funding. Either way, we’ve got loan options for you. 


Reasons Teachers Use a Personal Loan 

Teaching is an incredible career: you can nurture the next generation of minds, allowing students to flourish into the best versions of themselves. But that doesn’t mean it’s a walk in the park — especially financially. Compared to other professions, teachers don’t always receive the highest salaries. Plus, some teachers don’t get paid as much in the summer months when they’re not teaching. There are plenty of reasons a teacher might need a personal loan, including:

Debt Consolidation

Almost anyone — including teachers — find themselves in debt at some point in time. In fact, it’s recommended to build your credit history! However, if your debts have accumulated, you may feel financially overwhelmed. One way to take back control is with a debt consolidation loan, which links your debt payments into one single monthly payment. The loan pays off the combined debts, and you only need to focus on one loan from then on (rather than multiple debts).

 For the Summer Months

Some teachers don’t get paid as much during the summer months when they are not teaching. If that includes you, you may want a personal loan to tide you over during a financially-strained summer. At Suncoast, we even offer deferred summer loan payments, as we understand that you might struggle to pay back as much during July and August.

Pay for Teaching Expenses

As a career, teaching comes with some costs from time to time, with many teachers having to pay for these expenses out of their own pockets. That might include computers, textbooks, and stationery.

For Your Education

Teachers often continue their schooling to gain additional credentials, certificates, and degrees. Of course, this comes with a cost, but a teacher loan can help you afford it. Don't wait for the next phase of your education!

To Start a Family

 Many teachers — especially those in their early years of teaching — don’t always receive a salary that allows them to comfortably start a family. With some of our personal loans, you can receive financial assistance to buy a property and grow your family.

To Relax 

Teaching can be stressful and sometimes, you just need a break — especially when school is out in the spring or the summer. A teacher loan can give you the financial freedom to enjoy a much-needed vacation. After all, you deserve it!

Tips for Applying for a Teacher Loan


Before applying for a loan, make sure you know what you’re getting into.


Check your credit score

Knowing your credit score will give you a better idea of the personal loans you’ll qualify for. It’s easy to check your score — just sign up at one of the major credit bureaus.


Compare personal loans

To make sure you’re getting the best rates, compare teacher loans before applying. You want the lowest interest rate possible! Check lender reviews too — they can give additional insights into the company, such as how they are with customer service.


Avoid applying for multiple loans

Applying for too many loans at once can quickly tank your credit score. Instead, do your research and apply only for the loans that best match your needs.


Why Choose Suncoast for a Personal Loan? 

Suncoast is a credit union that focuses on community and providing the best possible rates.


Experts on Your Side 

At Suncoast, our team of insightful experts will help you reach your financial goals. If you need assistance choosing a loan for teachers, we can help.

Competitive Rates

As a nonprofit credit union, we’re able to offer some of the most competitive interest rates on the market, which means your monthly payments won’t be so high.

Options for Poor Credit

We understand that not everyone has a perfect credit history. That’s why we offer options for teachers with poor credit so that they can gain access to loans when they need them, without having to spend years building credit.

A Community Focus

We are a credit union, which means we focus on our members rather than profits. That means you'll receive the best advice and options with us, every step of the way.

Is a Personal Loan for Teachers Right for You?


Are our personal loan options for teachers right for you? If you tick off these boxes, then the answer is yes!


You Are a Teacher


We offer loans to teacher interns, substitute teachers, college professors, public school teachers, private school teachers, and any other kind of teacher.


You Have a Good Credit History


If you have a good credit history, that means you can take advantage of a lower APR, which saves you money in the long run.


You Want to Manage Your Debt


Consolidating debt is another good reason to use a personal loan. Use our debt consolidation calculator to see how much you can borrow.


You Want to Build Credit


Taking out a loan and keeping up with the monthly payments can actually help you build credit. If you’re a newer teacher and want to build a positive credit history, one of our loans could be right for you.


You Have a Good Reason for the Loan


Whether you need to fund tuition to better your own education or you have a lot of teaching supplies to buy, having a clear plan for the loan is a good sign it’s the right choice for you.


How to Apply for a Teacher Loan


Ready to apply? Become a Suncoast member today to start your application. You can also use our personal loan calculators to give you an idea of how much you can borrow.


Once you are a member of Suncoast Credit Union, you can apply for the loan that suits you best. As soon as we approve your application, you can close the loan and receive the funds directly in your account. From there, just keep up with the monthly repayments. It’s that simple!


Personal Loan for Teachers: Helping You Get By 

At Suncoast, we offer financial assistance for teachers who need an extra boost. With our competitive rates, you can invest in yourself without worrying about breaking the bank.


Summer Skip Program


Our Summer Skip program is designed to accommodate Suncoast members who aren’t paid during summer breaks from school or other seasonal employment.


Deferred Summer Loan Payments for Educators


For members who select Summer Skip, loan payments are deferred during July and August. Because you’re making 10 instead of 12 payments each year, each loan payment is approximately 20% higher than our standard loans and interest does accrue during the summer months.


Request more information about our Summer Skip program at 800-999-5887.