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 If you’re one of thousands of Michiganians who face the unpleasant certainty of job loss due to restructuring, downsizing or the transfer of operations overseas, you may be wondering how you can afford to train for another career. HarborLight CU is offering an affordable educational loan program tailored specifically for credit union members transitioning into a new career or occupation. The Career Transition Program, or CTP, helps credit union members obtain advanced training for a new vocation, trade or occupation.
Federal Stafford Loans - The student completes this form and applies for the loan. Payments begin six (6) months after graduation, withdrawal from school, or when enrollment drops to less than half time. Subsidized - Federal Government pays all interest during in-school, grace and authorized deferment periods. Unsubsidized – Borrower pays all interest, but the interest may be capitalized and temporarily postponed during in-school and grace periods. Federal PLUS Loans – The parent(s) of the student completes this form and applies for the loan for the student. Payments begin within 60 days after final disbursement. Applications for the above loans are currently not available at the Credit Union. Click here for more information. MI-Loan - Due to the current and unprecedented capital markets disruption, there is not sufficient available capital for the Michigan Higher Education Student Loan Authority to continue making MI-LOANs. Click here for more information. Additional WebSites available
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