Student Loan
Up to $30,000 per year
Terms & Conditions
All terms and conditions are subject to change. Some restrictions may apply.
Members must be in good standing as a borrower/guarantor and must have good credit to qualify.
- Completed high school and wish to pursue further education at the undergraduate level and above, and for community colleges & vocational training in the United States of America
- Enrolled in an accredited educational institution. Refer to this website
- A minimum of 12 credit hours per each semester is required
- Minimum past cumulative GPA of 2.5 is required for returning students
- The Annual Percentage Rate (APR) is Variable with Prime Rate Index plus a margin rate
*Maximum repayment period will be 120 months (payment starts 6 months after graduation). Interest accrues for the date of disbursement of loan funds.
- 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.
- 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.
- 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 will be 180 months (payment starts 6 months after graduation).
- Minimum Cumulative GPA: 2.5
- The current offered rate: Wall Street Journal Prime Rate + 1.500%.
- 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 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.
*Maximum repayment period will be 180 months (payment starts 6 months after graduation). Interest accrues for the date of disbursement of loan funds.
At Nizari we offer Student line of credit Up to $120,000 and Student Loan consolidation Up to $150,000.
Student Line of Credit
Up to $120,000
$30,000 per academic year
Terms and Conditions:
- All borrowers must have an account/membership with NPFCU to apply for a loan.
- All borrowers must be in good standing and be of legal contractual age.
- All borrowers must have legal status to reside and/ or work in the United States.
- Funds for educational expenses for undergraduate and post graduate programs.
- Guarantor(s) are required.
- All borrowers and guarantors (guarantor profile) must provide supporting documents as required in addition to a complete loan application.
- Guarantor completed 4506-C Form.
- Maximum credit limits up to $30,000 per academic year for an undergraduate program with an aggregate limit of $120,000 for the education (in-school) period.
- The same limit applies for post graduate programs, however, combined borrowing for students that have taken both undergraduate and post graduate loans is capped at $150,000.
- Maximum amortization term and starting rates as per rate schedule (payment starts 6 months after graduation). Interest accrues from the date of disbursement of loan funds. (insert link)
- Application fee applies (refer to application fee insert link).
Other Requirements:
- Enrolled in an accredited educational institution. Refer to this website
- A minimum of 12 credit hours per each semester is required.
- High Diploma (first loan) and thereafter transcripts required.
- Minimum past cumulative GPA of 2.5 is required for returning students.
- The aggregate limit for undergraduate and postgraduate studies is capped at $150,000.
All terms and conditions are subject to change. Some restrictions may apply.
“Apply Online” Click here to access our online loan application portal where you can submit your loan application and a Loan officer will reach out to you to provide your supporting documents.
Student Loan Consolidation
Up to $150,000
Terms and Conditions:
- All borrowers must have an account/membership with NPFCU to apply for a loan.
- All borrowers must be in good standing and be of legal contractual age.
- All borrowers must have legal status to reside and work in the United States.
- Combine several student loans into one loan.
- The borrower can consolidate education loans only after graduation.
- The borrower must be able to provide proof of graduation and employment.
- A guarantor may be required to qualify (guarantor-profile).
- 2 months clear pay stubs or 3 months bank statements; Tax return(s) for proof of income.
- Loans exceeding $25,000 require Personal Financial Statements & 4506-C form to be completed (insert link)
- The borrower must provide a payoff letter of existing student loans to determine the loan amount and to pay off existing loans.
- Maximum terms and starting rates as per rate schedule (insert link)
- Application fee applies (refer to application fee insert link).
All the above terms and conditions are subject to change. Some restrictions may apply.
“Apply Online” Click here to access our online loan application portal where you can submit your loan application and a Loan officer will reach out to you to provide your supporting documents.
Getting Started
Guarantors are required. Please note that acceptance of your application does not mean approval of a loan. INCOMPLETE Loan Applications will not be processed. Supporting documents must accompany the application.
