Student Loans

 Need Money for College?

At GIC COOP, we know financing college tuition can be both stressful and challenging. With rising costs of tuition, students and parents are discovering that INCOME AND SALARIES are stagnant, leaving them unable to cover the full cost of tuition. As a community microfinance lender, GIC COOP has a unique ability to help members and families by offering private lending solutions to fit every need:

GIC Education Loan

Continuing your education is more important than ever, and so is making smart financial decisions when it comes to paying for that education, which is why we offer the GIC COOP Education Loan through our partner, Universities, GIC Education  is a Loan is a private student loan developed specifically to help Cameroonian students pay for college when scholarships, grants and other aid just aren’t enough to cover the full cost of attendance (see Important Notice below).

Learn more about GIC Education loan program features, valuable borrower benefits, and repayment options below:

Program Features

• Complete your loan application online in as little as 15 minutes - initial approval decisions are typically made within days 

• Fixed interest rates ranging from 2.96% APR (with Auto Pay Discount  to 7.60% APR 

• Borrow from 20,000fcfa to 1 million Fcfa annually - loans can even be used for past due balances 

• (loans are certified by the school and may not exceed full cost of education minus other financial aid)

• Maximum aggregate loan limit is 1 million fcfa, inclusive of all student loan debt

• Satisfactory Academic Progress (SAP) not required

• application or origination fees of 5000fcfa

Benefits

• 0.25% interest rate reduction just for graduating 

• 0.25% interest rate reduction for auto-debit payments 

• Cosigner release after the first 24 consecutive on-time monthly loan payments 

Repayment

• Choose from our three repayment options: immediate, interest-only or fully deferred repayment 

Eligibility

• Student borrower must be enrolled at least half time in a degree-granting program (as certified by the school) at an approved school

• Student borrower and cosigner (if applicable) must be permanent residents or citizens of Cameroon

• The applicant applying as creditworthy (i.e. the cosigner or the student applying without a cosigner) must provide proof of current income plus collateral 

Start Your Application Today

Completing the online loan application takes as little as 15 minutes.  And, the application makes it easy to invite a co-signer to the process, mix and match loan options, and compare loan scenarios instantly, - so you can select a loan that's right for you. Don’t worry, if you don't have all of the necessary information to complete your application, we'll safely and securely save it for you.  

What You'll need to Apply

• Bio/Demographic Information

• Employment History

• Financial Information plus collateral 

• Reference/ Cosigner