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 between 8% and 17%, 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. The interest rate varies between 8% and 17%, based on 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


in Available Funds

12 years

To Repay

Up To

3 - 5 Working Days

Avg. Approval Time

As Low As


Interest Rate

Up To


Additional Information

Who is This Loan Primarily For?

Cornwall County university-level students who study full time

Cornwall County parents/guardians of university-level students

Cornwall County parents/guardians wishing to send their child to university

Cornwall County students that 18 years and older

Cornwall County students who wish to pay for school related expenses 

Cornwall County students who are thinking about going to University

Do I Need Collateral To Apply For This Loan?


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




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