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Education Loans

Benefits

 Save Money

  • Interest rate of 11% per annum on the reducing balance
  • No loan processing fees 

Peace of Mind

  • 100% financing

Flexible

  • Up to ten (10) years to repay
  • Available for all levels of tertiary education  
  •  Funds are disbursed when payments are due

Safe

  • Up to $150,000 in loan protection coverage at no cost to you

Requirements

  • A minimum of 5% of the total amount of the loan requested
  • Acceptance from the school
  • Member shares based on the amount of loan
  • Details of tuition fees. Where necessary, details of accommodation costs, living and other expenses
  • A recent transcript, if already enrolled in a tertiary institution
  • Most recent pay--slip and letter from employer detailing study leave arrangements (if study-leave with pay has been granted by the employer).   
  • Applying for a loan for someone?

             - Employed persons--most recent pay-slip or salary statement from your employer 
             - Self-employed persons--recent financial statements of business 

  • Details of security being offered
  • Your NCCU passbook(s) 
  • A valid photo identification (eg. Social Security card or passport or driver's licence)
  • Details of your liabilities and commitments (other loans, hire purchase, household expenses) 
  • If the approved loan is $77,000 and upwards or you are 50 years and older, a medical examination by an approved medical doctor is necessary for loan protection coverage 
  • Member Share/Loans click here

Domestic loans are available to cover children's Back2School Expenses. Learn more

 

All loans are subject to NCCU’s Loan Policies and approval procedures

To find out details on what can be used as security click here.