TCT Education Loans

Secondary School

• Student must be a member and the loan will be granted under the students account number.
• If student is not credit qualified then a co-maker will be needed for the term of the loan(s).
• Draw period for advances are while in college, graduate school or proprietary school.
• Interest only payment option while in school.
• Maximum line of credit of $20,000.
• Maximum advance will not exceed the cost of tuition plus college living expenses.
• Proof of schooling will need to be furnished each year by August 1st.
• Students who do not return for the fall semester will be allowed interest only through their December payment. Regular payments will begin for their January payment.
• Students who do not return during other parts of their school year will be allowed interest only for six months.
• Students who leave school and then attend at a later time may resume interest only payments upon proof of acceptance and tuition bill.
• Approximate 8 year maximum term upon leaving school.
• Revolving line of credit program with a fixed rate for each disbursement.
• Applications will be approved at present rate for the remaining school year.  Monies advanced during that school year will be at the same rate.
• TCT will use June 30 as an ending date for each school year; therefore, any disbursements after June 30 will be at the present stated rate.
• Students will have options to consolidate advances into one loan or maintain separate payments for each advance.

Private High School

• Applications for Private High School will allow a maximum 4 year term.
• Payments will be principal and interest from the start.
• Borrower will not be the student.
• Line of credit program with a fixed rate for each disbursement. Maximum limit of $20,000.
• Applications will be approved at present rate for the remaining school year.  Monies advanced during that school year will be at the same rate.
• TCT will use June 30 as an ending date for each school year; therefore, any disbursements after June 30 will be at the present stated rate.
• Members will have the option to consolidate advances into one loan or maintain separate payments for each advance.
• TCT encourages payments that will fulfill loan in one year, due to the fact that any remaining balance will be considered if applicant as co-maker for secondary school Education Loan.

---

TCT's Educational Loan Interest Rate

 

Rate

9.00% Annual Percentage Rate

Notes:

• Draw period while in college or proprietary school

• Interest only while in school

• Approximate 8 year term available when leaving school

• Credit restrictions apply

• All rates are subject to change without advance notice

• TCT is not responsible or liable for errors regarding posted rates