Achieve Higher with our suite of Student Loans

Demystify your path to academic success. Students new and seasoned have a lot to think about and getting affordable financing shouldn’t be one of them!

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Discover how C.O.B can help achieve your dreams

We believe in lifelong learning. As a member of our family you won’t have to make this journey on your own.

Education Loan Features

Empower your future with our tailored education loans, designed to make higher education more accessible and affordable. With competitive interest rates, flexible repayment options, and personalised support, we’re committed to helping you achieve your academic and career goals.

Features:

Unsecured financing available up to $30,000

Financing can cover full time, part time or online studies.

Maximum repayment period of 10 years with first 4 years as “interest only” payments.*

Pre-approved amount for full course of study.*

* Additional terms and conditions apply, contact us for more information before you apply

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What are the terms?

Requirements

Job letter

Two (2) recent pay slips

Proof of current mailing address (No older than three months)

Letter of acceptance or confirmation of enrollment from the institution including a statement showing fees and/or expenses.

Eligibility

Any salaried, self-employed professional or any Public sector employee who is a C.O.B Credit Union member, is eligible for an education loan.

Age: Maximum age of applicant at loan maturity: 65 years

Income: Minimum Net Monthly Income: $1,500

Credit Rating: A credit check will be carried out to verify your capacity to qualify for a loan.

Apply for your own Educational Loan

FAQs about Education Loans

Do I need security?

We lend on the strength of your security, but not in every case. The application will be assessed on an individual basis.

When are funds disbursed?

There is an assessment process. If lending is approved you may be called on the same day or at latest the following day.

When will I need to start repaying?

For loans approved during the 1st and 10th of the month, repayment is the end of the current month. Repayment will commence at the end of the following month on all loans approved after this date.

Can the disbursement cheque be made payable to me instead of the supplier?

It is our policy to have a record of the payee and is in keeping with what you requested.

How do I apply for a loan?

Click on the ‘Apply Now’ button on the top left side of the page heading and follow the instructions to apply!

How many loans can I apply for in a calendar year?

There is no policy on this. Every member’s situation is different.

How long will it take for a loan to be processed?

Our turn around time for loan secured by your savings is the same day. For regular loans it should not exceed a week. Mortgages are more involved as there is the need to be processed by a legal entity and therefore will take longer.

Achieve Higher with our suite of Student Loans

Discover how C.O.B can help achieve your dreams

Education Loan Features

What are the terms?

Requirements

Eligibility

FAQs about Education Loans

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