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We realize that the costs of education sometimes seem
prohibitive. While we try our best to keep tuition as reasonable as
possible, the cost associated with quality training continues to climb.
A variety of financial assistance programs are available to help our students
meet their educational expenses. |
PC Professor complies with all applicable state and federal equal credit
opportunity laws; however, PC Professor cannot guarantee financial assistance,
loans or credit to any student.
Some students pay for all, some or most of their educational expenses through:
 | available savings |
| earnings from employment while going to school |
While some credit cards have dangerously high APRs (Annual Percentage Rates),
others are quite reasonable. Compare rates and you may find it feasible
to pay with plastic. All PC Professor facilities accept Mastercard,
Visa, American Express, Diner's Card and Discover.
Resources paid by family members can be handled by:
| prepayment of tuition at the start of each class |
| monthly payments using Pre-Arranged
ACH Payments |
SLM Financial, a Sallie Mae Company, makes available
millions of dollars annually in credit based grants,
loans, and work-study funds to enable millions of students to attend
post secondary vocational training. Many state agencies also make money available to assist
students with vocational expenses.
To many students, these sources provide the "foundation" of
financial aid to which other resources may be added.
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| Your PC
Professor Financial Aid Representative can
assist you in obtaining an educational loan.
These loans usually
depend on the student's credit ranking and can
be very reasonable in nature. |
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PC Professor has established an in-house loan program to assist students who
have been turned down by other agencies and lenders. In doing so, we try
to accommodate our students' needs so that they can make comfortable payments
while receiving their education at our school. Your Financial Aid Representative will
be happy to share the details of this program with you.
A variety of other assistance may also be available, including:
| income from full-time or part-time jobs |
| employment and labor unions that may have programs
designed to help employees, members or their dependents pay
for postsecondary education
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| veterans benefits, which may be available to veterans
(check with your local Veteran's Administration office) |
| scholarships that may be offered through many
foundations, religious organizations, fraternities and sororities, civic
groups and the National Honor Society |
| private funding such as home equity loans
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| borrowing against insurance policies or 401k(s)
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| employer tuition reimbursement
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| alternative loan programs - contact your lender for
more information |
For most loans, you must be either a U.S. citizen, a US national, or a permanent resident and
must be creditworthy. Usually, the better your credit, the better your
interest rate. If you have no credit or a poor credit history, you
might still
qualify for a loan by applying with a creditworthy co-borrower.
Interest rates and fees:
Interest rates are variable (annually) and based on the Prime Rate plus a
spread. Your interest rate spread is usually determined by your credit history.
If you utilize a co-borrower, this too will be taken into account in
determining the rate. For most loans, the interest rates start at Prime
+1% with fees as low as 2% for borrowers with excellent credit.
Repayment term:
Repayment usually begins 30 days after disbursement. The
typical term is 5-10 years
with minimum payments set at less than $300 a month per loan. You
may have the option of
making interest-only payments while in school and sometimes there are no prepayment
penalties. After 6 consecutive payments, you may be able to apply for up to two deferred
payments a year. Final approval and program specifics are
at the sole discretion of the lending
institution. Since each case and each lender is different, make sure to
discuss all of these very important issues in advance.
Co-borrower Release Option:
Once you make 24 consecutive, on-time payments and meet the minimum
co-borrower release credit requirements, some loans will let you apply to release your
co-borrower from the loan. Not all lenders do--so be careful if this
option is important to you. |
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