The ICDL Graduate School has made arrangements with SLM Financial (Sallie Mae) for students to apply for Career Training Loans.
Career Training Loans are private, credit-based loans that offer interest rates and fees that reward good credit. You can borrow from a minimum of $1,000 up to the total cost of your education. That includes tuition and may include other education-related expenses such as books, fees, a computer, and living expenses. Up to 60% of the tuition amount is allowable for expenses, not to exceed $6,000.
The variable interest rate is based on the Prime Rate plus a tiered margin based on the borrower's and cosigner's (if applicable) credit history. Currently (3/11/08) the Prime Rate is 6.5%.
You can arrange for repayment terms up to 15 years and either defer payment until graduation or pay interest only until graduation in addition to standard repayment terms beginning at the start of the loan. Since there are no prepayment penalties we recommend that you consider applying for the full 15 year term. Most students elect to pay interest only or defer payment until graduation.
Please read the Career Training Loan Program information carefully before completing the Financial Aid Application Form. A complete and accurate initial Loan Application Form will help to make possible a smooth speedy approval process. You can fax or mail your application (please be aware that the fax number and mailing address is enclosed in the application) or you can apply online by visiting www.slmfinancial.com. Once on the Sallie Mae site click on "Schools & Students" and under the Career Training Loans portion of the page click "Apply Now." When prompted for school contact name enter "Lisa Wolf". When completing the application form please request the following disbursement dates: January 14, April 28, September 8.
Please be aware that the ICDL Graduate School is actively pursuing other ways of providing financial assistance for its students. We are in the process of identifying sources of scholarships and grants as well as private funding for student loans.
The ICDL Graduate School is willing to work with students on an individual basis to create flexible plans for tuition payments. We encourage all prospective students to contact us at gradschoolinfo@icdl.com to discuss these options.
