FAQ

 

FAQ

Frequently Asked Questions about the Star One Credit Union Educational Line-of-Credit Program:

Who is eligible?
Domestic: U.S. citizen and permanent resident graduate students enrolled or enrolling in Stanford’s Graduate School of Business.

International: International graduate students enrolled or enrolling in Stanford’s Graduate School of Business. 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

 

How much can I borrow?
Domestic: Students can borrow from $1,000 up to the cost of attendance less any other aid received. The aggregate total amount the student can borrow throughout their graduate college career is $250,000 with an annual loan limit of $100,000 dependent on cost of attendance, school limits, and school certification (Note: annual limit of $230,000 for the Sloan Master's Program).

International: Students can borrow from $1,000 up to the cost of attendance less any other aid received. The aggregate total amount the student can borrow throughout their graduate college career is $250,000 with an annual loan limit of $100,000 dependent on cost of attendance, school limits, and school certification (Note: annual limit of $230,000 for the Sloan Master's Program).

 

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.

 

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 depending on line of credit balance, 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 866-614-7824 (dial 248-598-2376 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.

CU Student Choice © 2017 All Rights Reserved