The 2014 Spring/Summer United Methodist Student Loan application is now open.
(For students enrolled between the dates of January 1 through July 31). The Loan committee will not start reviewing applications until January 13, 2014.
- Loans are granted on a first-come, first-served basis, until allocated funds have been used.
- Students may borrow up to $5,000 per calendar year for a maximum total loaned of $20,000.
- Borrower must be enrolled at an eligible school at least half-time.
- Borrower must be 18 years or older at the time you sign the promissory note. The application process may be completed earlier if you will be 18 years old by the time you sign the promissory note.
- Borrower must be an active, full member of a United Methodist Church for at least one year prior to application.
If apprived to receive a loan:
- You must provide enrollment verification prior to check disbursement.
- You must provide the promissory note completed by borrower and cosigner.
INTEREST RATES AND REPAYMENT TERMS:
Option A - 5% Fixed Interest Loan with deferred payment
Option B - 4% Fixed Interest Loan with deferred payment (for students attending UM Schools ONLY)
Option C - 3.75% Fixed Smart Loan with payment beginning within the month after the loan disbursement.
If you need additional assistance, or you have questions, contact us at firstname.lastname@example.org or call 615-340-7346.