Student Loan
Please note that acceptance of your student loan application does not mean approval of loan.

Terms & Conditions
Member can qualify for loan if the following requirements are met:
  1. Students who have completed high school and wish to pursue further education at undergraduate level and above, and for community colleges & vocational training in the United States of America.
  2. Loan will be approved for accredited educational institutions.
  3. Interest will accrue from check disbursement date at a rate of 5.75% APR.
  4. Students should take a minimum of 12 credit hours each semester.
  5. Loan for tuition fees will be $6000 per semester or actual, whichever is lower, up to a maximum amount of $ 12,000 per year, to be paid directly to the Institution.
  6. One guarantor is required with a minimum AGI of $ 40,000; otherwise, two guarantors each with a minimum AGI of $25,000.
  7. Verification of Guarantor's Income is required.
  8. Students possessing a TIN number will be eligible to apply for these loans.
  9. Student is required to submit proof of completion of high school education, admission to a program of study for which loan is applied, credit hours for each semester and tuition fee statement.

    10. Other Terms
  10. Repayment begins 6 months after graduation and the maximum repayment period will be 120 months.
  11. If a student takes longer than 4 years to graduate, the loan repayment date will be postponed based on supporting documentation from the educational institution. Nizari will allow repayment 6 months after graduation.
  12. Student will be required to submit transcript with Nizari PFCU within 15 days of completion of semester. In the event student drops out and discontinues the course of study, the loan amortization (installment) will become due with immediate effect and the borrower will be required to make regular monthly payment towards the loan.
INCOMPLETE Loan Applications will not be processed. Supporting documents must accompany application

All the above terms and conditions are subject to change. Some restrictions may apply.

Download Student Loan Application
 
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