Student Loans

Student Loans

The foundation administers two low-interest student loan programs for United Methodist students. Loan amounts are dependent upon available funds and the number of approved applicants.

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Our

Student Loan Programs

STUDENT LOAN

Criteria

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Applicants must be full and active members of a United Methodist church within the Florida Conference and admitted to a degree program at an accredited institution within the United States.

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Applicants may apply and receive loans for fall and spring terms.

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All loans must be co-signed, and all loan applications must include a signature sheet signed by the applicant and co-signer. Once a loan is awarded, a promissory note signed by the borrower and a cosigner legally binds them to the repayment terms as specified in the note.

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Loans are repayable after graduation or withdrawal from school. The interest rate for student loans is 5 percent.

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Interest accrues on the principal loan balance from the date the loan check is disbursed and continues until the loan is paid in full. The borrower may repay all or any part of the principal plus accrued interest at any time without penalty.

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While in school, all loan recipients must submit a verification of enrollment form from the school for each semester they receive funding. The verification forms may be obtained from the foundation by calling 866-363-9673 or emailing foundation@fumf.org.

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Final payment is due no later than 120 months from the date the first payment is due.

APPLY FOR A

Student Loan

Loan Applications are accepted from July 1-31.

Application packets are also available by calling the foundation at 866-363-9673 or emailing foundation@fumf.org.

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