Charter One
Graduate Loan
Charter One Graduate Loan
Borrower Benefits
For graduate and professional students
- 0.25% interest rate reduction for automatic payment deduction from any bank account.1
- Cosigner release option after 48 consecutive, on-time payments.2
- Competitive rates and fees.
- Repayment term of up to 25 years, depending on loan amount.
- Borrow up to the cost of attendance.
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
You are eligible for the Charter One Graduate Loan if you are:
- A graduate or professional student in a degree or certificate program.
- Enrolled at least 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:
If you are applying as a credit-worthy borrower, you or a co-signer must:
- 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.
If you are applying as a credit-ready borrower, you must:
- Satisfy certain credit criteria, although an established credit history is not required; and
- Be a U.S. citizens or permanent resident who has had a stable residence in the U.S. for the past 2 years.
International Students
International students must apply with a qualified co-signer. Please contact us at 1-800-721-3969 for details on acceptable student visas and other required documentation.
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
For a credit-worthy applicant, the following borrowing limits apply:
- Borrow annually up to the lesser of $45,000 or the cost of attendance minus other aid (as certified by your school)
- $1,000 minimum loan amount.
If you apply as a credit-ready applicant, the following borrowing limits apply:
- Borrow annually up to the lesser of $20,000 or the cost of attendance minus other aid (as certified by your school)
- An aggregate maximum borrowing limit of $120,000. Limit is $225,000 for those in dental and medical programs and $130,000 for those in law and osteopathy programs
- $1,000 minimum loan amount.
Disbursement
- Payable to student and school.
Repayment Terms
- Take up to 20 years to repay (up to 25 years for loans of $40,000 or more).
- No prepayment penalties.
- Minimum monthly payment as low as $25.
Repayment Options
Deferring Principal and Interest Payments During School
Make no payment while in school for up to 5 years. Repayment of principal and interest begins approximately 180 days after you graduate or withdraw from school (or are enrolled less than half time). Interest that accrues during the deferment period will be added to principal at the time you begin repayment.
Medical students can request additional deferment after graduation for up to 4 years while completing internship or residency with a maximum deferment period of up to 8 1/2 years (which includes the 6-month grace period).
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
For More Information
Contact us today at 1-800-721-3969.
Other rates and terms available. Please call 1-800-721-3969 for details.
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