You are applyingfor a line of credit with a local financial institution /credit union. A Credit Union is a bit different from a traditional bank in that youmust become a "member" and establish a small savings account of $25 toutilize their loan services.
Coastal is a successful and long-standing financial institution but newto the student lending world. We are very pleased that they havechosen to partner with Fuqua to fund our international student lendingneeds. Since Coastal is new to student lending, and since Fuqua isanxious to get applications to you as quickly as possible, the attachedpackage of forms is lengthier than future ones will be. As this is thecase, we have included a sample set of completed application forms toassist you.
lease read the enclosed application instructionscarefully to ensure that you are completing the forms correctly toprevent processing delays. As you are now applying for a line of credit to cover your entireeducational experience; in future academic years, you will only need tocomplete the short Educational Loan Advance Application.
Lastly but importantly, the Fuqua School of Business has agreed toguarantee this cohort of student loans to obtain favorable rates forour international students. This means that the Fuqua School will berequired to pay any defaulted loans, and as such, will take a personalinterest in following up on delinquent payments and in collection. Weare making this investment because we have confidence the internationalstudents chosen to attend the Fuqua School of Business will becomehighly successful business people who will make payment of theirstudent loans a top priority.