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Wright-Patt Credit Union

Student Lending Center

Loan applications for the 2024-25 academic year are not available at this time. Please check back periodically for updates.

Custom Loan Program for International Undergraduate or Graduate Students at

Wright State University

✔ FAQ

Need Assistance?

For assistance with opening a new private education line of credit, or to request additional funds from an existing line of credit, please call:
734-556-4564

Key Features of Our Program

Variable rate of 14.50% APR^*
- 0.25% rate discount for optional enrollment in automatic electronic payment during repayment**
Apply once and secure financing for your entire undergraduate or graduate studies with unique line of credit structure^†
Available to international students (students who are not U.S. citizens or U.S. permanent residents, and require a visa for entry to the United States)
A Social Security number OR Individual Taxpayer Identification Number (ITIN) is required to qualify
Flexible repayment options, including full deferment of payments while in school^‡
15 year repayment period – or repay early at anytime with NO penalty
Optional graduated repayment which provides lower payments during the first two years of repayment
A loan from a not-for-profit credit union - a lender relationship you can trust
Maximum borrowing amounts are listed below. View undergraduate and graduate borrowing limits.

Borrowing Limits

The maximum loan amount will be the certified need determined by your school, up to $20,000 for the remainder of their undergraduate or graduate education. The certified need is typically the Cost of Attendance (COA) less other financial assistance and aid received. IMPORTANT: Please note that the maximum co-borrower aggregate amount for borrowing (across multiple lines of credit for multiple borrowers) is $20,000.

The University will certify the requested loan amount with the credit union.

Undergraduate

Maximum Loan Limit: $20,000

Apply for Variable Rate

Return to an existing application or request additional funds

Graduate

Maximum Loan Limit: $20,000

Apply for Variable Rate

Return to an existing application or request additional funds

Interest Rates

Variable Rate

The Annual Percentage Rate (APR) for our private education line of credit is variable¹ and is based on the Prime index² plus a margin.

The current offered rate³ is 14.50% APR

0.25% rate discount for optional enrollment in automatic electronic payment during repayment⁴

Your Interest Rate⁴ is calculated by adding the Index plus a Margin⁵, subject to a minimum APR (Floor). The Floor rate is in effect any time the Interest Rate is below your assigned Floor rate. All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice. Credit union membership and a minimum share deposit is required. Contact us for membership details.

Rate Disclosures

The Annual Percentage Rate is subject to increase after consummation. Your Interest Rate is variable and may be adjusted quarterly on each January 1, April 1, July 1 and October 1 (Adjustment Date) based on the Prime Index as published in the Wall Street Journal on the first business day of the month immediately prior to the Adjustment Date (e.g., December, March, June and September). Any increase in the Index may increase the APR and the amount of your monthly payment.
The "Index" for the quarter beginning April 1, 2024, is 8.50%, which was the Prime index (Index) published in the Wall Street Journal on the first business day of March 2024
Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Index, Margin, Floor, and/or credit approval will depend upon the student borrower’s and co-borrower’s (if applicable) credit qualification. Applicants may apply with a creditworthy U.S. co-borrower which may result in a better chance of approval and/or lower interest rate.
The APR will not exceed 18.00%, or fall below the Floor rate regardless of the Index. Any increase in the Index may increase the APR and the amount of your monthly payment.
Margin will be disclosed at account opening.

Frequently Asked Questions

International undergraduate or graduate students enrolled or enrolling in Wright State University. 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 includes one of the following:

F-1 visa and I-20, I-94 and a valid passport with photo, and a Social Security number OR ITIN
J-1 visa and form DS-2019, I-94 and a valid passport with photo, and a Social Security number OR ITIN
H1-B visa along with a letter from your employer confirming employment, I-94 and a valid passport with photo, and a Social Security number OR ITIN

Please see the interest rates section.

0.25% rate discount for optional enrollment in automatic electronic payment during repayment**

While in school, you may choose to:

Make interest-only payments
Defer both principal and interest
Make full principal and interest payments

Once your six (6) month grace period ends, your loan will enter repayment based on the terms outlined below. You may elect for graduated repayment at this time - lowering your monthly loan payments for the first two (2) years after starting repayment - which may be a valuable benefit if you are just beginning a new career and managing a tight budget.

The repayment term is 15 years.

Apply now and receive instant line of credit approval. Or, for questions, call 734-556-4564. Representatives are available 24 hours a day, 7 days a week to answer your questions.

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.

* APR = Annual Percentage Rate.
** The APR will not exceed 18.00%, or fall below the Floor rate regardless of the Index or any additional rate discount.
† Subject to credit qualification and annual credit review. Must meet school's Satisfactory Academic Progress (SAP) requirements.
‡ Approved programs subject to change