<p>As a United Methodist pastor, I just wanted to make folks aware of the loan program available to members of the United Methodist Church. Students can borrow up to $5000 per year, with 3 different rate options. For all students: 5% fixed rate with deferred repayment. For students at UM colleges and universities: 4% fixed rate with deferred repayment. A new loan was just initiated for all students: 3.75% fixed rate with immediate repayment (starting in 90 days). </p>
<p>My kids just took out the 3.75% loans. Their loan payment will be $50/month starting in 90 days. We will cover that payment until they graduate - then they will take it over. </p>
<p>The only requirements for these loans:
Must be a member of the church for at least one year
Must be at least 18 (my 17 yr old freshman has to wait until his birthday to sign the promissory note)
Must have a C average</p>
<p>Google: UM General Board of Higher Education and Ministry</p>
<p>Hope this helps someone. (There are also UM scholarships, but those are harder to get and have already been awarded for Fall 2013)</p>