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 permanent 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 $5,000 per year for full time students. Credit-worthy cosigners are required for all loans and all loans are subject to a 1.072% origination fee. There is a 4% interest deferred loan or a 3.75% interest non-deferred loan with immediate repayment. Repayment on the deferred loan 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. The non-deferred loan will accrue less interest over the life of the loan.
Visit the United Methodist Church loan website for details and an application, or contact firstname.lastname@example.org.