WHY RHEMA MONEY LENDING SERVICE The RHEMA Money Lending Student Loan Program has been created with one goal in mind - helping you finance a higher education without a higher price tag. Our private student loan solution: • Helps fill the funding gap that exists after lower-cost sources of aid have been exhausted. • Offers lower origination fees and lower rates than many other lenders. • Allows for fully deferred payment while youre in school (optional). • Is structured as a Line-of-Credit (LOC), which you can then use over multiple years. The benefit is that with just one application you can qualify for a student’s loan that will cover the remainder of your undergraduate, vocational, technical, nursing, teacher training career etc. (up to ¢60,000)*. Each year, you simply determine how much of the eligible amount youll need - without having to complete an entirely new application! • Offers flexible repayment options resulting in lower initial payments even after graduation (optional). • Gives you the chance to reduce your interest rate by 0.25% during full repayment when you enroll in automatic payment. • Establishes a relationship with a financial institution you can trust - as your loan will be granted and held by your not-for-extortion money lending service. By choosing RHEMA MLS over other alternative lenders, youll enjoy significant cost-savings and consumer-friendly terms. KEY POINTS TO NOTE Whos eligible? • Salaried workers • Self employed • Government workers • Entrepreneurs / business owners • individuals Also students; Tertiary students who are: • 18yrs and above • Ghanaian citizens or permanent residents (Foreign students are NOT eligible) • Enrolled at least half-time in a four year degree-granting program at an approved public or private school and meet the school’s minimum SAP (Satisfactory Academic Progress) criteria (Make sure to check that your school is included in our listing of approved schools before you apply.*) • Interested persons in the vocational, technical, nursing, teacher training, senior and junior high respectively; • Able to pass a credit check (A guarantor would be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate.) • Eligible also for NAFSAC Members (You may apply without being a member of NAFSAC, but you will need to become a member in order for the loan to be funded at lower rates – By more than half of the existing rates.) How much can I borrow? Once approved, students can borrow from ¢200 up to the cost of attendance (which is determined by your school and generally includes: tuition and fees, room and board, books and supplies, and personal and miscellaneous expenses) less any other aid received, as certified by your schools financial aid office. The total amount students can borrow throughout their college career is ¢150,000 for Higher learning, ¢60,000 for undergraduate students as well as ¢4000 for vocational, technical, nursing, teacher training, senior and junior high respectively; What are the rates and terms? You will be quoted your specific rate after you are approved for the loan. Repayment term is up to 2 years maximum if your loan balance is ¢4,000 or less, and 3 years if your loan balance is more than ¢40,000. You may defer payment while in school (until six months after graduation or withdrawal from school). Note: There is no obligation to take the loan once you apply and are approved. We encourage you to apply and evaluate your options before making a final decision. How are rates determined? Rates are variable and reset quarterly. They are also dependent on your credit. How quickly are funds disbursed? Funds like school fees loan and accommodation loan will be disbursed directly to the school or accommodation providers at the time the school or providers specify. The requested funds date varies from school to school. We will verify this date with the school. How do I apply? You can quickly and easily apply by texting. If you have questions, please call our student loan representatives at +233 574 44 22 22. REMINDER! Before applying for any type of private student loan, make sure youve exhausted all other lower-cost sources of financial aid. PRODUCTS 1. SCHOOL FEES LOAN 2. ACCOMMODATION / HOSTEL LOAN 3. FUEL CREDIT 4. STUDENTS TRAVEL LOAN 5. PERSONAL LOAN 6. PROJECT WORK LOAN 7. INVESTMENT LOAN 8. GROUP LOAN 9. EMERGENCY LOAN 10. FUNERAL LOAN
Posted on: Mon, 05 Jan 2015 18:21:55 +0000
Trending Topics
Recently Viewed Topics
© 2015