Educational Loans
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The following guidelines are subject to change by the
Board of Directors of Colville Tribal Credit Corporation.

The Educational Loan Program will provide funding for education costs.  The program is designed to meet education costs that are not covered by other funding sources.  All students will be required to pursue funding via the Tribe’s Higher Education Department and Employment and Training Department before seeking funding through Colville Tribal Credit.

  • Eligible applicants include students, parents of students, grandparents of students, and legal guardians of students.  The applicant must be an enrolled member of the Colville Tribe.

How do I apply?

To apply for this loan, an applicant must turn in the following:

  • Completed and signed loan application
  • Income Verification (current pay stubs or 2 years of IRS tax returns)
  • CTEAP – Higher Education Grant Calculation
  • The Grant Calculation includes the cost of education at the selected school, the  student resources, and the unmet need.
  • Verification of student’s current school registration
  • One page letter from the student stating academic goals and anticipated date of  completion.

How much money can I apply for?

  • Each student is eligible for a total of $2,500 per school year with a total maximum of
    $10,000.  Two or more applicants may apply for the student, but the student can only received $2,500 per school year.
  • Colville Tribal Credit will only lend the unmet need with the maximum of $2,500 per school year.

Example:  The student’s unmet need equals $3,000 and the applicant applies for $3,000 for the 2009-2010 school year.  The applicant is only eligible for $2,500 since that is the maximum available per school year even though the unmet need is $3,000.  If the applicant gets the loan for the student, then the student is not eligible for any more student loans until the 2010-2011 school year.  A different applicant would not be eligible to apply for the remaining unmet need of $500.

If I already have a loan with Colville Tribal Credit, can I still apply for a student loan?

Yes, an applicant may apply if they currently have a loan with Colville Tribal Credit; however, all loan advances must fit within debt/income ratios  and other guidelines established by Colville Tribal Credit.

Do I have to live in Washington or go to a Washington school?

No, the applicant can live anywhere in the U.S. and the student can attend the school of their choice.

 

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