Application Requirements
Applicants must demonstrate a strong willingness to study, graduate, and repay the educational credit granted by FUCECA. This will be assessed during an in-person interview with each student.
Applicants should have some prior credit experience, and it should be reasonable. They should also be generating some income. If they lack prior credit experience or income, they must provide co-signers or guarantors who have reasonable credit experience and sufficient income to cover the debt.
Applicants may also provide additional collateral such as properties, vehicles, certificates of deposit, among others.
The interest rate will be 8% per year for the life of the educational credit, subject to market conditions. The amount financed will range from 20% to 70% of the cost of each degree. All educational credits include life insurance for the student.
Conditions
Credit Application
The credit application form must be fully completed and submitted along with the required personal documents.
Application Fee
A payment of RD$1,000 must be made at the time of application. This payment can be made by credit card, bank transfer, or cash at FUCECA offices.
Monthly Budget
Applicants must provide a monthly budget of their income and expenses during university studies (complete the form included in the application).
Required Documents
Applicants must present UNICARIBE admission and registration documents to validate the need for the educational credit for academic purposes.
Account Statement
Each applicant will have an individual account statement that will include only the relevant information related to their credit application and documents. Once the educational loan is granted, they will be able to access their account statement to check their outstanding balance, pending interest, and details of their last three payments.
| Types of Payments | Description |
|---|---|
| Manual Payments | Available at the University (UNICARIBE) |
| Electronic Payments | The relevant banking information, such as the name of the bank and the account number required to carry out such transactions, will be provided. |
Credit Bureau
Maintaining a positive credit history is crucial for long-term financial success. In the case of FUCECA, it is essential to establish contact with the Credit Bureau and review each applicant’s history. Furthermore, once the educational loan is granted, the payment details will be reported monthly to the Bureau, which will help strengthen and maintain a solid credit history.