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Financing Your Studies
To help you achieve your
goals,
Mt.
Nittany
offers several payment options for financing your education.
•
Option One
- pay tuition in full in a single payment
one month prior to the start date of a
program.
•
Option Two - pay tuition plus
a 6% service charge in two equal payments. The first payment is due
one month prior to your program’s start date; the second payment is
due half way through your program.
•
Option Three -
for those who qualify,
Mt. Nittany Institute
accepts veteran’s benefits and
Pennsylvania OVR funding.
•
Option Four
- SLM Corporation, a Sallie Mae Company educational loan, with
multiple low payments. You may
qualify for this affordable student loan to fund your
Mt.
Nittany
education. This career-training loan is
designed to help you cover many of the costs of your education,
including these commonly covered items: tuition, books, classroom
materials, and housing and transportation. Those with little or
blemished credit are encouraged to engage a co-borrower to obtain a
loan.
How to apply? We’ll provide you
with a loan application form with your program application. Matt
Soccio,
the Institute’s Accounting Coordinator, is available to discuss your
financial needs and assist you with processing a loan application.
Matt can be reached at: (814) 238-1121 Monday - Friday 9:00am -
4:30pm or send an e-mail accounting@mtnittanyinstitute.com
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Self-Funding |
SLM
Corporation
|
Subsidized
Programs |
|
Eligibility
Required |
N/A |
Yes -- Applicant
must be:
· US Citizen or
documented Permanent Resident
· 18 years old
· Employed |
Yes -- Office of
Vocational Rehabilitation
Yes -- Veterans
Administration (MTTP Only) |
|
Payment
Plans |
Pay in full 30
days prior to program start date
Or
Pay in 2
payments
· ˝ due 30 days
prior to program start date
· ˝ due
approximately half way through the program, plus a service |
Yes -- Up to 15
years to repay |
N/A |
|
Approval
Required |
No |
Yes -- credit
history and employment; co-borrower may be needed |
Yes, per each
agency's
guidelines |
|
Interest
Charges |
6% service fee
on second payment |
Federal
Reserve's Prime Rate plus 0% to 6.5% |
N/A |
|
Other Fees |
N/A |
2% to 8%,
depending on credit rating
|
N/A |
|
Payment
Deferment |
No |
Yes - if
requested at time of application
Max 12
months
$10 per month
during term of deferment |
N/A |
|
Application
Fee |
N/A |
No |
N/A |
|
Prepayment
Penalty |
N/A |
No |
N/A |
|
Loan
Amounts |
˝ of tuition
only |
Maximum:
$15,000 for all
education related expenses
Minimum: $1,000 |
N/A |
Contact us:
info@mtnittanyinstitute.com |
