Soka Loan Program for Undergraduate International Students

Loan Information:

  • Lender: Soka University of America
  • Loan Servicer: Heartland Campus Solutions - Educational Computer Systems, Incorporated (ECSI)
  • 2016-2017 Fixed Interest Rate: 4.0%
    • Interest rate varies by year
    • Interest does not accrue while in school or during grace period
  • No loan fee.
  • Dependent students may borrow up to $14,000 or up to Cost of Attendance minus other financial aid (whichever is less) per year   
  • Independent students may borrow up to the Cost of Attendance minus other financial aid (whichever is less) per year   
  • Must complete Entrance Counseling, Master Promissory Note, and Self-Certification Form
  • 3 Loan Disclosures are sent to the student prior to disbursement
  • Funds are disbursed after add/drop date of each term (September/February)

Repayment Information:

  • 6-month grace period
  • Grace period begins after you graduate, withdraw, or enroll below half-time (6 units)
  • Repayment begins on the day after your grace period ends
  • 10 Year Standard Repayment Plan
    • Minimum payment is $50 per month
    • Monthly payment amount is based on the total loan       borrowed
    • Maximum repayment period is 10 years
  • Not equired to make loan payments while you are in school and in your grace      period
  • Can prepay some or all of your loans without any penalty
  • $20 late charge per month
Repayment Example:
The following example details the estimated costs of your loan once repayment has begun at the end of your grace period. These are estimated payment calculated using a fixed interest rate of 4.0%.  Amounts are rounded to nearest dollar.

Amount Borrowed

Standard Plan (10   Years)

Monthly Payment

Total Interest Paid

Total Amount Paid