For students who are not seeking a degree, there are private student loans available through Sallie Mae or Wells Fargo.
Be sure to follow each step of the application process when applying for a private/alternative student loan. If you need assistance, contact the lender, who can walk you through their process and update you on the status of your loan. An alternative loan is a privately financed educational loan in the student's name, which is offered by banks and other organizations. These loans are not federally funded. The interest rates on these loans often are either fixed or variable, are not capped and are tied to the prime rate or LIBOR index. Alternative loans are credit-based loans and, in most cases, a creditworthy co-applicant is required. With a co-applicant, the risk to the lending institution is reduced and the borrower can receive a better interest rate. Individual eligibility will vary according to cost, need and any other aid being received by the student.
Students may make 5 payments of $1,100 while attending the academy. Please note, the academy must be paid in full before students are eligible to take the state licensing exam and/or graduate.
Pell grants and Federally funded student loans are available ONLY for those students choosing the four year college track option and who are pursuing a bachelor's degree. These students will need to be admitted to the University as a regular student in addition to being admitted to the academy. For more information on these federally funded programs, please contact Student Financial Services at (573) 651-2253.
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