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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 loan amount $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 1.
- 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.
- 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.
- Student will have option 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.
- Maximum loan amount is $20,000.
- 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.
- 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 applies as co-maker for secondary school Education Loan.
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