FAQ

 

FAQ

Frequently Asked Questions about the Emory Alliance Credit Union International Educational Line-of-Credit Program:


Who is eligible?
Domestic: Domestic graduate students enrolled or enrolling in Emory University’s Goizueta Business School.

International: International graduate students enrolled or enrolling in Emory University’s Goizueta Business School. An international student is defined as a student who is not a U.S. citizen or U.S. permanent resident, and requires a visa for entry to the United States. Necessary documentation may include one of the following:

  • F-1 visa and I-20, along with a valid passport with photo
  • J-1 visa and form DS-2019, along with a valid passport with photo
  • H-1B visa and letter from employer (verifying employment throughout current academic year), along with a valid passport with photo

 

How much can I borrow?
Students can borrow a maximum of $100,000 for Domestic students and 100,000 for International students. Funds will be split evenly between the Fall and Spring semesters as determined by your school.  


What is the interest rate on my line-of-credit and how is it determined?
Please visit our Interest Rates page for up-to-date rate information.

You can reduce your rate by 0.25% by making automatic electronic payments during your repayment period. If your line of credit is subject to a floor rate (also known as a minimum interest rate) as specified in your promissory note, your rate will never be less than the floor rate.


What are the repayment terms?
You may choose full deferment while in school, elect to make interest only payments while in school, or choose full principal and interest payments. Once you complete school and your six month grace period ends, you can choose a) straight repayment over the term – 20 or 25 years principal balance when you enter repayment, or b) graduated repayment for two years. The graduated repayment option amortizes the first 2 years over a 40-year period and then over either 18 or 23 years for the remainder of the loan. This means monthly loan payments will be lower in the first two years after starting repayment—which may be a valuable benefit if you are just beginning a new career and managing a tight budget.


How do I apply?
Apply now quickly and easily to receive instant line of credit approval. Or, call 866-476-7120 (dial 248-598-2375 from outside the United States) to apply by phone. Representatives are available 24 hours a day, 7 days a week to accept applications and answer your questions. 


Once I have established my line-of-credit (documents have been signed and funds disbursed), how do I request additional advances from my line-of-credit in the future?
For your second academic year, as a returning borrower with an existing line-of-credit, you do NOT need to complete an entirely new application to request additional funds. Simply apply for additional funds from your existing line-of-credit.

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