The Dreamer Graduate Loan Program is intended to provide TheDream.US alumni with access to student-centric graduate loans. The program has a reinvestment component: Borrowers’ repayments enable more Dreamers to access graduate student loans based on the annual percentage rate of the federal Grad PLUS program that is currently only available to US citizens.
Student Bill of Rights
1. Right to FInancial education and information
Students have the right to information and support that help them: a) determine how best to finance graduate school without undue debt burden relative to anticipated future earnings based on their programs of study, b) manage debt repayment, c) graduate, d) find good jobs, and e) achieve increased economic well-being. These include:
- Information: Students have access to information by attending workshops and through TheDream.US scholars’ website for graduate students.
- Counseling: If borrowers apply for a graduate loan facilitated by the Dreamer Graduate Loan Program, they will have at least one counseling session to ensure they understand the loan obligations they will be undertaking. If additional assistance is required, students may be provided with financial education resources, connections to community-based supports, and referred to other supportive services.
2. Right to Transparency and individual privacy
Students have the right to clear terms and open communications so that they may make informed and empowered financial decisions. Accordingly, students will receive:
- Clear Terms: Students receive clear summaries of loan terms, upfront and in writing, including access to materials that outline loan eligibility criteria, define key loan terminology, and show how different repayment and deferment options will impact their debt repayment.
- Transparent Application Decisions: Students are encouraged to understand the decision made on their loan application, including, but not limited to, why they may have been denied or approved for a different amount than initially requested.
- Open Communications: Students have access to staff throughout the lifecycle of their loans from pre-application to full repayment who can answer their questions and care about their success, no matter how they pursue it.
- Individual Privacy: Students’ personal information will be held in strict privacy.
3. Right to Student-Centric Financing
Students have the right to finance their education in a way that is linked to their ability to repay. Therefore, they can count on:
- Downside Protection: Students are provided with flexibility through several repayment and deferment options that support them in successfully repaying their debt during school and after graduation.
- Cost-Effective Terms: Student loan amounts are capped for eligible degree programs based on a manageable debt-to-income threshold with annual percentage rates based on those of the federal Grad PLUS loan program.
- Fair, Student-Friendly Loan Servicing: Students will be supported in their debt repayment with dedicated servicing.
4. Right to be heard
Students have the right to have their voices and feedback heard. To that extent, students are encouraged to share their feedback and suggestions to improve the program.