Graduate FAQs

  • Questions About the Graduate In-School Line of Credit

    • How does the Line of Credit (LOC) work?

      With the unique structure of our education line of credit, you can borrow up to the full cost of the remainder of your education. You will not need to reapply each year (assuming there are no significant changes to the borrower or co-borrower credit scores).

      Each year, you will simply request additional funds (called a "draw") for the amount you wish to have disbursed to your school (based on your school's certified amount - read more below).

    • How often can I receive disbursements from my Line of Credit?

      Funds are disbursed to your school based on the school's disbursement cycle. You will request the specific draw amount from your line of credit each year.

    • How much can I borrow?

      The minimum is 1,000 per year. The maximum loan amount will be the certified need determined by your school, up to a maximum amount set by your credit union (view the product information page for more information) for the remainder of their graduate education. The certified need is typically the Cost of Attendance (COA) less other financial assistance and aid received. IMPORTANT: Please note that the maximum co-borrower aggregate amount for borrowing (across multiple lines of credit for multiple borrowers) is $250,000. 

  • Application and Funding Questions

    • Who is eligible for a graduate student loan?

      Graduate students who are:  

      U.S. citizens or permanent residents (non-resident students are NOT eligible)

      Continually enrolled in a degree-granting program and meeting the school's minimum Satisfactory Academic Progress (SAP) criteria. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time. (Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.)

      Before applying, make sure to check that your school is included in our listing of approved schools

      Able to meet Bridgewater Credit Union's standard underwriting criteria (a cosigner may be necessary and may also help your qualify for a lower rate)

      Eligible for credit union membership (you may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded)

    • What if my school is not on the list of eligible schools?

      Our private education line of credit solution is available to thousands of public and private non-profit, degree-granting schools nationwide. Unfortunately, if your school is not included in our approved list, then you are not eligible at this time. However, you may wish to contact the credit union for other possible loan options. Please note that the eligible schools list is subject to change without notice. 

    • Are there out-of-pocket fees I have to pay?

      No. This private education line of credit does not have origination or other application fees. In addition, there are no prepayment fees.*

      *See rates page for additional information, repayment examples, and important disclosures.

    • When completing the application, what is the difference between "line of credit amount" and "loan amount"?

      When you first complete the application, your line of credit amount will prefill. This amount is based on your school's cost of attendance and number of years you have remaining. 

      You will need to select a loan amount, which is the amount you personally need to borrow for the upcoming term. For future academic terms, you will be able to request additional funds from your line of credit (called a "draw"), up to your line of credit amount (subject to annual credit review and satisfactory academic progress). Please note that draws can never exceed your school's cost of attendance for the specified term.

    • If the loan amount is certified by my school, why do I need to enter a requested loan amount on the application?

      Some borrowers have additional funds they will contribute to their education. For example, your school may certify $10,000, but you only need to borrow $5,000 because you have other funds (such as savings) to pay the remaining cost.

    • To apply, do I have to know my enrollment status?

      Yes. You must be continually enrolled in a degree-granting program and meet your school's minimum Satisfactory Academic Progress (SAP) criteria to be eligible. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time. Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.

    • Do I and my co-borrower (if applicable) need to be members of the credit union in order to be eligible?

      In order to fund the loan, the borrower and co-borrower (if applicable) must be a member of the credit union. To expedite funding, visit your credit union branch or website to open your membership account while we are processing your loan.

    • Why do I need to answer multiple personal questions in order to eSign?

      We partner with the credit bureaus to provide a secure form of identity verification. By validating your identity through this process, we can forego extra identity verification in many cases.

  • Co-borrower Questions

    • Do you require a co-borrower?

      A borrower is not required to apply with a co-borrower. However, applying with a credit worthy co-borrower may improve a borrower's chance of meeting the credit union's approval criteria and potentially qualify for the line of credit at a lower interest rate.

    • Can my co-borrower be removed from the loan at a later date?

      A co-borrower release option is available to credit worthy borrowers who make 48 consecutive on-time payments during the principal and interest repayment period, and meet additional requirements (such as salary and debt-to-income ratio). You must apply and be approved for this option after the 48 month period. Other terms and conditions may apply, and option may be revoked or modified without notice.

  • Loan Processing and Funding Questions

    • Can I have loan funds sent directly to me?

      No. Loan funds are disbursed directly to your school for tuition, fees, and room and board.

    • What if I requested additional funds for books, off-campus housing, or other items not covered by my school?

      Each school processes refunds in excess of their costs differently. If you requested funding to cover miscellaneous expenses, please check with your school to find out their specific procedure for refund issuance.

    • I requested more money than I received in disbursement. Why didn't I get my full requested amount?

      Though you requested a particular loan amount, your school might have certified your loan for a lesser amount. The process of school certification allows your college to have control over your loan amount and when the loan funds (disbursement date). School certification involves the college in the borrowing process, ensuring the students are managing their educational debt wisely. 

      The school will not certify an amount that is more than the cost of attendance (COA) minus any financial aid received. (Financial aid is defined as federal direct loans, scholarships, and grants.)

    • How can I lower (or cancel) my request?

      Depending on the timing of your request, we may be able to accommodate your request. Please call our call center at 866-232-3314 to discuss your options. When necessary, we may have you contact the financial aid office at your school.

    • How long does the process take from loan request to disbursement?

      During peak loan season (July through September), please allow 35-40 business days from the time you submit your completed loan documents. During non-peak season, please allow 10 to 15 business days from the time your completed loan application has been submitted.

      Though your loan may be processed, it is up to the school to "certify" your loan. Certification involves selecting a disbursement date and loan amount for your loan. The school has the final say on when your loan disburses and in what amount.

    • I requested my funds late and my school has a due date for funding that I cannot meet. What can I do to avoid late fees?

      Please let your financial aid office and your bursar's office know that you have been approved for a loan. If the school requires proof that you are approved for the loan, ask the financial aid office which documents they require for proof that the loan is in process. After speaking with the financial aid office, contact your bursar to inquire about how they manage late fees and if they can be waived.

    • How do I submit my documents to Loan Processing?

      You may submit documents by secure upload, fax or mail.

      - Upload: You can safely and securely upload images of your loan documents directly to Loan Processing by logging into your existing application.

      - Mail:

      Bridgewater Credit Union

      c/o CampusDoor Holdings

      1415 Ritner Highway

      Carlisle, PA 17013

      - Fax: (717) 241-3188 

      If you need further assistance in submitting your documents, please email us at
      or call the credit union at 866-232-3314.

    • Can I email my documents to Loan Processing?

      Email is not a secure method of transmission and we do NOT support emailing as an option. However, you may securely upload your documents by clicking the "Upload Loan Documentation" link within the application.

  • Repayment and Servicing Questions

    • Who will service my loan?

      University Accounting Service (UAS) will service your loan. Once your loan has been disbursed or entered repayment, you may contact UAS with questions at 877-530-9782.

    • I have questions about my loan statement or need to update my contact information. Who do I contact?

      You can reach UAS at 877-530-9782, or access your account online at

    • How can I set up automatic debit for my loan payments?

      To establish automatic debit for your student loan payments, please contact UAS. You may visit the servicing website to create an account and set up your automatic payments.

      You may also contact UAS at 877-530-9782.

    • What are my repayment options?

      You may choose to make interest-only payments while in school; defer both principal and interest payments until six months after graduation; or make full payments while in school. If you defer both principal and interest payments during school, interest begins accruing at disbursement and will be capitalized when you enter repayment.

    • I want to change my repayment option while I am still enrolled in school. How can I make that change?

      To change your repayment option, please contact UAS directly at 877-530-9782. Changes to repayment options can only be made once per academic year.

    • What are the standard repayment terms on my line of credit?

      The repayment term is 20 years if your principal balance at repayment is $40,000 or less, and 25 years if your principal balance at repayment is more than $40,000.

    • What will my payment be?

      Create an account on the servicing website to access your line of credit information or call UAS at 877-530-9782.

    • What happens if I am late making a payment?

      You will be assessed a late fee if your payment is not made on time. You can pay your bill safely and securely online through the servicing website

    • What is the graduated repayment option?

      Graduated Repayment is repayment of principal and interest using an extended amortization period intended to lower the monthly payment amount, after which payments are higher and based on the remainder of original term. 

    • What should I do if I am unable to make my regularly scheduled payment?

      Payments are due in accordance with your repayment schedule. If you are unable to make a scheduled payment, you must contact the loan servicer (UAS) at 877-530-9782 before the payment due date to determine if alternate arrangements can be made.

    • Is there any penalty for paying the loan off early?

      No. You can pay off your loan at any time, even if you're still in school.

    • How do I receive my annual interest statement, 1098-E?

      Depending on the interest you paid over the prior year, your document will be mailed by the loan servicer. You may also access these documents from the servicing website or contact UAS at 877-530-9782.

  • Loan Denial Questions

    • My co-borrower no longer qualifies for this loan. What can I do to get the loan again?

      You can re-apply for the loan with a different co-borrower. Call the credit union at 866-232-3314 to inquire about underwriting criteria.

    • I no longer qualify for this loan. What options do I have for funding?

      If you no longer qualify for the loan, you should speak directly with your school's financial aid office. They will offer additional education funding guidance to you and your family.

  • Transferring Schools Questions

    • I am transferring to a different school. Can I still get this loan?

      If you are transferring to a new college, you will need to first confirm that the school is approved for funding per our approved school list. If the school you are transferring to is approved, you may contact our call center 866-232-3314 to be guided through the process.


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IMPORTANT: Loan applications for the Summer 2021 academic term AND the Fall/Spring 2021-2022 academic year are now available!