Financial Aid for Non-MIU Students
Transcendental Meditation course from MIU
Note: the following instructions were written when banks were offering private loans for stand-alone university courses. Since 2014, banks have not allowed these loans for less-than-half-time students. (The TM ED 101/501 and ED 102/502 courses together are two academic credits, which is less-than-half-time academic standing.)
Banks change policies, however, so we are leaving this information on the website in case a bank again offers a private loan to less-than-half-time students sometime in the future.
Some course participants may eligible for private educational loans that fully cover the course tuition and $250 for transportation and course supplies. Each participant must apply separately for a loan, including members of a family. Your interest rate will be lower if you use a co-signer. Please contact your bank or another bank of your choice for more information about private educational loans.
The minimum age for loans through Maharishi International University is 16 years.
As soon as you have submitted your loan application, you should complete the Admission Form. If you complete the printable PDF form, please give it to the Transcendental Meditation center, who will complete the bottom portion and send it in.
What is the basis for loan approval or disapproval?
Credit rating, employment history, and income to debt ratio. Some people may need a qualified co-signer to be accepted for a loan.
How long does the loan approval process take?
Loan acceptance can happen within a few days, but if information is missing from the application or if the credit search experiences delays, the loan process can take much longer, the lender may contact you to request missing information. Please phone weekly if your loan is in process.
How do I learn whether my loan has been approved?
The lender will let you know when your loan is approved. MIU also if notified and will contact your TM® Teacher at that point.
Once approved, what is the timeline before funds are released? How are you notified?
MIU will receive the loan funds about 15 days after final acceptance, and then MIU will inform your TM Teacher that you may begin your course, and your TM Teacher will contact you to schedule a class.
What are the other types of loans I can use for this course?
You can use any educational loan which is available for non-degree, less than half-time continuing education courses. Do not apply for Federal Stafford or Federal PLUS loans which require degree-seeking half-time enrollment.
Tuition, other fees, scholarships, and financial policies are subject to change prior to the entry date.