Education Loans
Education Line
of Credit Loan
With tuition,
fees, and other expenses on the rise, federal financial aid may
not be enough to cover today’s higher education costs.
Convenient and affordable, our private (non-federal) education
loans are the perfect solution!
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Borrow up to $100,0001
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No application deadlines—apply anytime
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No annual re-application process
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Simply request advances2 each semester
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No fees
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Attractive variable rate3
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Option to make interest-only payments while in school4
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Up to 180 months to repay
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Interest may be tax deductible. Consult your tax
advisor.
Eligibility
You must be enrolled at least half-time in a degree or
certification program at an approved two-year institution,
four/five-year institution, or graduate/professional school.
1
Not to exceed estimated cumulative Cost of Attendance minus
other aid. Approval based on creditworthiness and ability to
repay.
2
School certification required. You may make advances each
semester up to your school-certified limit for a period of five
years from the loan effective date, or until the date you leave
school, or your GPA drops below the minimum of 2.0, whichever
comes first.
3
The interest rate may be adjusted quarterly on the first
calendar day of January, April, July, and October and is based
on Wall Street Journal Prime Rate Index plus a margin of 0% to
2.00%. Rates are dependent on credit score.
4
For up to five years after the loan is opened or until you leave
school, or your GPA drops below the minimum of 2.0, or 6 months
after you graduate/become certified, whichever comes first. Proof
of enrollment and GPA will be required each term. This is called
the Interim Period. The required minimum monthly payment during
the Interim Period is $20.00. When the Interim Period ends, you
will make monthly payments of principal plus interest on your
outstanding loan balance until your loan is repaid in full. We
will amortize your loan balance over the remaining life of the
loan. The Repayment Period begins the day the Interim Period
ends. If there is no Interim Period, the Repayment Period begins
on the initial disbursement date. The required minimum monthly
payment during the Repayment Period is $100.00.
Apply for an Education Line of Credit Loan
