How does the Line of Credit (LOC) work?
You will be underwritten for the cost of the remainder of your education ($75,000 maximum) and will be allowed regular disbursement draws up to the school certified amount. Each year you will request a draw for the amount you wish to be disbursed from the LOC. You will not need to reapply each year assuming there are no significant changes to the borrower or co-borrower credit scores.
