Loans


Student Loan

Up to $25,000 per year

Please note that acceptance of your student loan application does not mean approval of loan.

Terms & Conditions
Member can qualify for loan if the following requirements are met:

Students who have completed high school and wish to pursue further education at undergraduate level and above, and for community colleges & vocational training in the United States of America.

  • Loan will be approved for accredited educational institutions. Refer to this website http://ope.ed.gov/accreditation/
  • Interest will accrue from check disbursement date.
  • Students must take a minimum of 12 credit hours each semester.
  • Student loan for Tuition, Books and Campus Boarding will be up to a maximum amount of $25,000 per year, to be paid directly to the Institution.
  • One guarantor is required with a minimum AGI of $ 50,000; otherwise, two guarantors each with a minimum AGI of $25,000.
  • Student is required to submit proof of completion of high school education, admission to a program of study for which loan is applied, credit hours for each semester and statement of tuition, books and campus boarding.
  • Maximum repayment period: 180 months (payment starts 6 months after graduation)
  • Minimum Cumulative GPA: 2.5
  • In the event student drops out and discontinues the course of study, the Student Open End Loan Program  amortization (installment) will become due with immediate effect and the borrower will be required to make regular monthly payment towards the Student Open End Loan.
  • The current offered rate: Wall Street Journal Prime Rate + 1.500%. 
  • The Annual Percentage Rate (APR) for our Student Open End Loan Program is Variable and is determined by using the Wall Street Journal Prime Rate Index plus a margin determined in the sole discretion of Nizari PFCU. 

INCOMPLETE Loan Applications will not be processed. Supporting documents must accompany application

All the above terms and conditions are subject to change. Some restrictions may apply. 


Download Student Loan Application

Student Loan Application
IRS Form 4506-T

 




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"APY" refers to Annual Percentage Yield
"APR" refers to Annual Percentage Rate

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