CES Continuing Education Loan Details & Disclosures

CES Continuing Education Loan Additional Information

• The Credit Union will provide financing of CES tuition, fees, and books to members who have been accepted into a CES-approved licensure program.
• Advances on this sub-account may take the form of:
  • Invoiced Tuition Payments: Quarterly billing from CES
  • Masters Course Registration Fees: The student must provide the Credit Union with a copy of the Master's course registration form.
  • Reimbursement Payments: Students who have already paid for tuition, fees, or other course-related expenses such as books may be reimbursed for these costs.
  • Proceeds will be disbursed only when invoices or receipts are submitted to the Credit Union, and the disbursements will be payable to the biller. If the borrower has paid the invoice already, the advance will be payable to the source of original funding (i.e., credit card); if the borrower paid cash, the proceeds may be payable directly to the member.  Advances to cover the costs of books may be made directly to the borrower.
• The minimum payment is $50.00 per month. Will allow the scheduling the first payment to be up to 3 months out.
• Payment example: 8.50% for 84 months equals $348.37 per $1,000 borrowed.

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