FINANCIAL AID
Financial aid provides assistance to students who require funding to meet the cost of attending college.  There are four categories of financial assistance:

1. Grants
2. Loans
3. Scholarships
4. On-campus employment

Grants and Scholarships
Grants and scholarships are awards that do not have to be paid back.  Generally, grants are based on a demonstration of financial need, and scholarships are based on student performance and talent.

Loans
Loans represent money that the student or parent borrows and repays with interest.  Usually, education loans are offered at low interest rates and have long repayment terms that generally begin after the student leaves school.  Some loans require a demonstration of need; others do not.

Employment Opportunities
Employment enables a student to work part-time, while a student, for an hourly wage.  International students are generally employed on-campus.

STUDENT LOANS
We are recommending the following lender to our students that would like to borrow an educational loan.  As a student loan borrower, you are NOT required to select this lender and you may choose one of your own.

Apple Federal Credit Union

Student Loans are available directly from Apple Federal Credit Union to VIU students who are U.S. citizens, or have a permanent resident status, or are International students.  The loan must be used for education related expenses (i.e., direct deposit for a tuition payment).  The student applying should have an established good credit history and a verifiable income that is reliable and sufficient to re-pay the loan.

It's easy to get started!
1.  Complete the application.
2.  Submit the application using the postage-paid panel on the back OR click here to apply online.

Loan limits are as follows:

1. U.S. Citizen Students:  Up to $35,000 per academic year
2. Green Card Holder Students:  Up to $7,000 per academic year
3. Second Year Foreign Students:  Up to $5,000 per academic year
4. First Year Foreign Students:  Up to $3,000 per academic year

1. A grade point average of  3.1 or more
2. Dean's referral
3. Low variable interest rates (subject to change quarterly) tied to Prime Rate (index) plus .50% - 4.00% margin - view current rates
4. Repayment terms of  5 years
5. Option to defer the first payment for six (6) months
6. A convenient automatic payment method

Loan terms for international students of VIU:

The student should have a sponsor in the U.S. who will act as a co-signer on the loan.  The co-signer should have an established good credit history and a verifiable income that is reliable and sufficient to re-pay the loan.  These loans are available to international students of VIU who have achieved academic excellence.

1. A grade point average of  3.1 or more
2. Dean's referral
3. TOEFL score of 563 (220) or more
4. Low variable interest rates (subject to change quarterly) tied to Prime Rate (index) plus 1.000% - 5.00% margin - view current rates
5. Repayment terms of  3 years
6. Option to defer the first payment for six (6) months
7. A convenient automatic payment method

The co-signer must provide the following information:
- Social Security Number
- Gross Annual Salary
- Contact information for a reference

For additional information, please contact: