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20 Church Street

Mon - Thurs. 8:30 AM - 3:00 PM
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Student Loan (Secured)

The Student Loan offers a maximum of $6,000,000 to full-time students with up to 12 years to repay. Interest rates vary based on collateral.

Student Loan (Secured)

 

About This Loan

The Student Loan is for students planning to study full time only. The Education Loan can be used for payment of tuition, purchasing of books and other expenses related to the school. It offers $6 million with 12 years to repay. Interest is calculated based on the amount and type of collateral. Repayment begins six months after completion of study. The repayment penalty for missing one month is an additional 5% of the loan amount for the month missed. Collateral is required for this loan, this includes cash, car title (must not exceed 10 years old), property title and insurance (cash surrender value). Members must make a 5% deposit of the required loan amount in shares. Application process begins 3-5 working days after the required documents are submitted.

What You Need To Know

Up To

$6,000,000

in Available Funds

12 years

To Repay

Up To

3 - 5 Working Days

Avg. Approval Time

As Low As

22.5%

Interest Rate

Up To

 
 

Additional Information

Who is This Loan Primarily For?

Cornwall University-level Students who study full time

Cornwall Parents/Guardians of University-level students

Cornwall Parents/Guardians wishing to send their child to University

Cornwall Students that 18 years and older

Cornwall Students who wish to pay for school related expenses Cornwall Students who are thinking about going to University

Do I Need Collateral To Apply For This Loan?

Yes

Minimum Amount Disbursed For This Loan?

Based on Chosen Security

What Are The Requirements To Apply For This Loan?

  • Deposit 5% of required loan amount in shares

  • Acceptance Letter/School Report

  • Valid ID (Driver’s License, Passport or National ID)

  • Tax Registration Number (TRN)

  • Collateral/Security for loan or two Guarantors who are willing to provide tangible security Passport size photograph

 
Steps To Apply

Become a member of Gateway

1

Fill out and submit a loan application form in branch

2

Submit all required documents

3

Submit proof of funds for collateral

4

Gateway registers the collateral

5

Pay the application fee

6

Wait for loan to be processed

7

Receive a call from a Gateway credit clerk

8

Sign relevant documents for disbursement

9

Our Team Stands Ready

If you're interested in any of our loans, we'll pair you with our expert customer service representatives, who will work with you to understand how to bring you to the solution they need.

 

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STILL NOT SURE?

Deciding whether Gateway is the right partner for your loan? We know that this is a long-term decision, and we want to ensure that you are fully informed going into this commitment with us.

 

Learn more about this opportunity by chatting with our agent, or by visiting our Frequently Asked Questions.

 

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