RCW Education Loan Repayment Program
Student loan debt is a troublesome obligation faced by many church workers. A crushing debt may cause ministers to concentrate more on their financial needs and less on their call for serving their communities. The Education Loan Repayment Program provides a refinance opportunity for both private and federal student loans. It is important to note that unlike federal/government student loan programs, once federal student loans are consolidated through this loan program, they are no longer eligible for certain repayment options that are made available only for federally backed student loans.
Details
- Loans up to $50,000 available to Ordained or Commissioned workers
- Up to 10 year repayment terms
- Fixed interest rates starting at 6.125% (6.195% APR**)
- The online application takes less than 10 minutes to complete.
**APR is the Annual Percentage Rate. Rate referenced above is the lowest rate possible for qualified borrowers and is based on underwriting criteria. There is a one-time $100 loan origination fee. Loan example: $50,000 at 6.125% for 72 monthly payments of approximately $831.60 each with a corresponding APR of 6.195%. All loans are subject to approval. Additional terms and conditions may apply. Rates subject to change.