Who can apply?
To be eligible for a United Methodist Loan, you must be an active, full member of the United Methodist Church for at least one year prior to applying, a citizen or permenant resident of the United States, admitted to a degree program in an accredited college or university, and maintaining at least a C average.
How much can I borrow and what are the interest rates?
Up to $2,500 per year for full time students and $1,250 per year for half time students, adding up to a total of $15,000 over the course of an individual’s educational lifetime. The interest rate is 6%. Interest begins to accrue from the time the loan funds are disbursed until the time the loan is repaid. Repayment begins no later than six months after the student graduates or withdraws from school, and the final payment is due no more than 120 months (ten years) after the first payment is due.
See the UMC Loan Web site for details.
Applications are available in the Office of Financial Assistance, 2nd floor of the Tilghman House. Also e-mail email@example.com for more details, or visit the United Methodist Church loan Web site for more details and an application.