A good cosigner is a friend or family member who is steadily employed with sufficient income to meet obligations; is not overextended on credit; and has no serious derogatory items on credit history. Please read carefully all disclosures sent by any lender prior to accepting funds.
Remember, these are loans which must be repaid by you or your cosigner. For more information contact the Financial Aid Office.
United Methodist Students Struggling to Pay Tuition, Fees, Housing, Etc. for the Fall Term?
We have low interest loans available to help. Students at your UM-affiliated school automatically qualify for our 4% deferred loan. Or, they might prefer our 3.75% non-deferred loan with immediate repayment. Loan qualifications: Active full member of the United Methodist Church for at least one year. Admitted to a degree program at an accredited institution. Maintain at least a C average. Credit-worthy cosigners required for all loans. All loans subject to a 1.072% origination fee. Students may borrow up to $5,000 per calendar year. If choosing the deferred payment option borrowers are allowed up to ten years following a six-month grace period after graduation or withdrawal from school to repay the loan. Those choosing the 3.75% immediate repayment option will save substantial interest over the life of the loan. The United Methodist loan program was established in 1866. Funding for the loan (and scholarship) programs come from offerings, wills, annuities and other designated gifts. We have a long history of offering help to United Methodist students. Our aim is to help students keep their loan debt as low and manageable as possible. Compare our loans to those offered by other institutions or the U.S. government. You’ll find we are very competitive. Please feel free to contact us directly (615-340-7346) or visit our Website (www.gbhem.org/loanapplication) for more information.
Mount Olivet Foundation Grant and Loan Opportunity
Mount Olivet Foundation is offering loan and grant opportunities to students who are affiliated with the United Methodist Church and/or are from the Northern Virginia Area. For more information please go to www.mountolivetfoundation.org. Applications are considered at Board meetings at the end of April, July, October and January. The application should be in the hands of the Foundation for review by the end of March, June, September or December for consideration at the subsequent Board meeting.
Private Lenders List