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Wells Fargo Connection Career Loan
Financing Options for Every Student
The Wells Fargo Education Connection Career Loan makes it easier than
ever for you or a family member to get an education financing. You can
borrow from $1,500 to $25,000 per year (up to a lifetime maximum or $100,000)
to finance all of your education-related expenses. You can even borrow
up to $5,000 for a personal computer!
- Undergraduate degrees, graduate and professional programs at approved
proprietary schools
- Full-time, part-time, half-time, and less than half-time students
- Two-year programs
- Pre-pay without penalties
- Eligibility
- Students attending eligible propriety school
- Loan Amount Available
- Fees
- Origination fee: 8.90% - included in total loan amount
- No out-of-pocket fees
- Repayment Term
Call 1-800-230-4080
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SLM Financial Program for Corporations and their Employees
THE CAREER TRAINING LOAN CORPORATE PARTNERSHIP PROGRAMS
Many leading corporations invest in education or training
for their employees, through tuition reimbursements or tuition payments.
In either case, employers make an investment up front, with the expectation
that employees will stay with the corporation after the training is completed.
The Career Training Loan Corporate Partnership
Program (CPP), offered by SLM Financial Corporation, is designed
to protect a corporation's investment in its employees, and
provide employees with the opportunity for continued education.
Under the program, a corporation makes Career Training LoanSM
payments on behalf of its employee, for an agreed time period,
as long as the employee continues to work for the corporation.
CPP ensures that corporations and employees
benefit more from the investment made in the employee education.
WHY THE CORPORATE PARTNERSHIP PROGRAM?
Corporate Benefits
Reduce financial risk
Corporations know that after an employee completes continuing education
or training, a new job opportunity may cause the employee to leave. When
this happens, the corporation does not fully capitalize on the investment
it has made. With CPP:
- You pay only as long as the employee stays with your corporation during
the 3-year repayment period.
- Career Training Loan payments are spread over three years to minimize
up-front costs.
- If the employee leaves the corporation, then defaults on the loan,
your corporation is not obligated for the remaining balance of the loan.
Flexible repayment options
Corporations have the option to make:
- Full principal and interest payments, beginning 30 days after loan
disbursement, or
- Interest-only payments (during the in-training or in-school period),
then standard principal and interest payments for the remaining term.
Recruiting tool
Your corporation can use the CPP to recruit new employees, and promote it
as a benefit of employment.
Reduce costs by prepaying
Your corporation may prepay the loan at any time without penalty.
Employee Benefits
Save money on education or training
- The CPP can save employees hundreds, even thousands, of dollars on
their cost of education.
- Employees can use the loan to pay for tuition and education-related
expenses.
- CPP provides an opportunity for financial support by an employer if
none currently exists.
Career Training Loan Features And Benefits
CPP participants save money
- Interest rates start at Prime + 1% with a 1% fee for borrowers with
excellent credit.
- Interest rates are variable, resetting on the anniversary
date of the loan.
Cover the total cost of education
- Borrow a minimum of $1,000 up to the cost of education (less financial
aid received).
- The loan can include education-related costs (up to 60% of the tuition
amount, not to exceed $6,000).
Quick application processing
- Fast approvals within 24 hours
- 85% of applicants are approved
Schools Benefits
Builds relationships with corporations Schools and training centers
in the community also benefit when corporations participate in the CPP.
- Solidifies or expands relationships with corporations to provide financial
support for students.
- Provides an opportunity to recruit more students from corporations.
Increases enrollment
- Diversifies the demographic mix of an entering class.
- Increases immediate cash flow and efficiencies by eliminating deferred
payments and corporate billings.
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