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Citizens Bank Continuing Education Loan
Charter One Continuing Education Loan (CEL) Borrower Benefits
For part-time, less than half-time students (or non-degree students)
- 0.25% interest rate reduction for automatic payment deduction from any bank account.1
- Competitive rates and fees.2
- Repayment term of up to 20 years.
How to Apply
Already applied? Check application status.
If you have any questions during the application process, please contact us at 1-800-721-3969. Again, thank you for choosing Charter One!
Eligibility
- Enrolled in school less than half-time (as determined by your school).
- Attending a TERI-approved school (call 1-800-721-3969 to confirm eligibility of school).
You or your co-signer must also meet the following credit guidelines:
- Have a satisfactory credit, residence and employment history of at least 2 years;
- Have proof of current income (If self-employed, have been in business for at least 2 years); and
- Are a U.S. citizen or permanent resident and have resided in the U.S. for the previous 2 years.
Features and Benefits
- Payments can be deferred while students are in school.
- Can be used to finance existing or past due balances - no time limit.
Interest Rate and Fees
- Call 1-800-721-3969 for current rate information.
Borrowing Limits
- Borrow annually up to $15,000.
- $30,000 aggregate maximum borrowing limit.
- $1,000 minimum loan amount.
Disbursement
- Payable to student and school.
Repayment Terms
- Take up to 20 years to repay.
- No prepayment penalties.
- Minimum monthly payment as low as $25.
Repayment Options
If you are in a certificate or degree granting program, you will make no payment until the earliest of:
- Two years after first loan disbursement,
- Six months after graduation, or
- Six months after enrollment has ended.
If you are in a non-degree or non-certificate program, you will make no payment until the earlier of:
- Six months after end of the academic period for which the loan is taken, or
- Six months after enrollment has ended.
Qualification
Approval for the loan programs listed above is based on a student's good credit standing. If the student does not have any credit or, has low credit, a cosigner may be required. The cosigner must also have good credit and the proven ability to repay the loan.
When filling out the online TERI Loan application, you'll need the following information:
- Name
- Address
- Phone Number
- Date of Birth
- Social Security Number
- Annual Income (if applicable)
- Employer Name/Phone Number
- Monthly rent or mortgage payment
- Name of school you plan to attend
- Loan amount requested
Value Added Services
For More Information
Contact us today at 1-800-721-3969.
Please click here to return to the Sinclair Community College Financial Aid Loans Page.
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All accounts, loans, and services are subject to individual approval. See a banker for details.
1 The 0.25% interest rate reduction is available to borrowers who arrange with the loan servicer to automatically deduct monthly payments from their bank account. The rate reduction will begin when automatic principal and interest loan payments start, and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to contract rate if automatic payments are cancelled, rejected or returned for any reason.
2 Rates and fees may vary depending on your credit score and your co-signer’s credit score (if applicable). And for undergraduate borrowers of the Charter One Loan Programs, the repayment option selected will also determine the actual rates and fees.
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