Posted on Jun 17, 2019
Many people make plans for continuing their education but have concerns about how to pay for it. College is expensive but ACNB Bank can help with Extra Credit, our student line of credit. You can use Extra Credit to pay for tuition, books, room and board, and other education-related expenses.
How it works.
Extra Credit is a joint line of credit with both a student and parent or guardian on the line. Adult students with an established credit history may apply individually.
Secured or unsecured lines of credit are available. If you apply for a secured line of credit, you pay for your educational needs by using the equity in what you own. Collateral for a secured loan can be things like your home, Certificates of Deposit (CDs), stocks, bonds and life insurance.
The minimum credit line amount is $2,500. The term is a 60 month draw period with a 120 month repayment period. For the first 60 months, the payments are interest only and billed quarterly. The Annual Percentage Rate (APR) is variable based on Wall Street Journal Prime.
Extra Credit is a great option since you only need to apply once. You can borrow what you need when you need it.
Click here to learn more or apply today!