TO AVOID DELAYS IN THE PROCESSING OF YOUR APPLICATION PLEASE INCLUDE THE FOLLOWING:
- Application completely filled out and signed
- Include your mailing and residence address
- Include ALL payments you are making: credit cards, debt reduction services, collections, child support, student loans, etc. (anything that will show up on a credit report)
- Copy of Tribal I.D. Card
- Must be current – Non Expired
- Income Verification
- 2 most recent paystubs
- Statement explaining why the funds are needed
- Copies of bills and estimate of items to be purchased with funds
- Letter from the Spokane Tribal Education Dept explaining why you have the unmet need
- Proof of filing for FAFSA
- School Verification
- Current class schedule/acceptance letter from school
- Current grades
- Expected graduation date
PROOF OF GRADES AND NEW CLASS SCHEDULES ARE REQUIRED AT EACH CHANGE IN ENROLLMENT PERIOD. IF THEY ARE NOT RECEIVED, INTEREST WILL BEGIN ACCRUING AND PAYMENTS WILL BECOME DUE.
These things are considered by Spokane Tribal Credit in determining the ability to re-pay the loan
- Monthly payments compared to monthly income (debt to income ratio).
- Repayment history with Spokane Tribal Credit.
- Stability of income.
- Credit score
- If no history with Spokane Tribal Credit, the loan amount may be limited, or co-signer may be required.
LOANS THROUGH STC ARE SECURED BY FUTURE PER CAPITA PAYMENTS