our school
student loans
Animationmentor.com is committed to providing our students with a superior loan product with which to finance their Animation Mentor education.
We've provided some information on loans that are currently available, along with terms and conditions (if applicable). If, after reading through them, you still have questions, feel free to call our student loan advisor Rosie Varela at 510-450-7232 or email your questions to loans@animationmentor.com.
Loan Application deadlines:
Winter 2010: November 27, 2009
Spring 2010: March 5th, 2009
Summer 2010: May 28th, 2010
Fall 2010: August 27th, 2010
SLM Career training loans (U.S. Residents)
Note: Prospective applicants must be accepted into the AnimationMentor.com program prior to beginning the student loan process.
The Career Training Loan is a private, credit-based student loan for technical training or trade school, online courses, and other education programs.
Effective October 16, 2009, Career Training Loan applications will include a new reduced repayment term. Applications submitted prior to October 16, 2009, will be processed under the then current terms of the loan, including a maximum 15-year repayment term. Any applications received October 16, 2009, or later will be processed under a reduced repayment term.
Making interest-only payments while enrolled in school helps students reduce total loan debt levels and the amount of time it takes to repay the loan. It can also help students avoid capitalized interest and begin building credit history while in school.
Elgibility
- You must be a U.S. citizen or permanent resident and have an established credit history.
- The institution you are attending must be licensed or accredited by the department of education in the states where they do business.
Benefits
- Competitive interest rates that reward creditworthy borrowers.
- If you do not have an established credit history, applying with a creditworthy cosigner may help you qualify for the loan. Even if you have an established credit history, you may be eligible for a lower interest rate if you apply with a creditworthy cosigner.
- Creditworthy borrowers may request a cosigner release from the loan obligation after making the first 24 consecutive payments of principal and interest on time. Features
- Easy online application with fast credit decision and electronic signature.
- Borrow for both tuition and other education-related expenses
- No prepayment penalty
- 24/7 online account management.
- Combined billing when you have multiple Sallie Mae-serviced student loans.
Loan Terms
- There is no aggregate loan limit.
- Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received.* Interest Rate
- Manage your credit well and you may qualify for a lower interest rate.
- The Career Training Loan has interest rates that reward good credit. Interest rates are variable and reset monthly.
Repayment
- You may take up to 15 years to repay your loan.
- With the standard repayment option, you make level, monthly payments of principal and interest. The minimum monthly payment is $30.
- With the interest-only repayment option, you make interest-only payments while you are in school and begin standard repayment of principal and interest once school is completed.
Another Way to Help Pay Down Your Loan
With Upromise Loan Link℠ student and parent borrowers who join Upromise® can link their Sallie Mae loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae-serviced student loans. Visit www.salliemae.com/upromise to learn more and enroll today.
- The release of a cosigner is at the sole discretion of Sallie Mae. The borrower must have a satisfactory history of making principal and interest payments and meet underwriting guidelines when the request of cosigner release is processed. The borrower's account must remain current until the request for release is processed and the borrower must be a U.S. citizen or permanent resident at the time the cosigner release is processed.
- Deferring payment while in school will increase the overall loan costs. Unpaid interest that accrues while you are in school and in the grace period will be capitalized (added to your loan amount) at repayment.
* Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.
The Career Training Loan is made by Sallie Mae Bank® or a Sallie Mae lender partner.
Access to Upromise is not limited to Sallie Mae loan customers. Terms and conditions apply.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS, UPROMISE LOAN LINK AND BORROWER BENEFITS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.
Subject to the above, Career Training Loan information applies to loan applications received on or after June 22, 2008 and is subject to change.
Sallie Mae and Sallie Mae Bank are registered service marks and Career Training Loan is a service mark of Sallie Mae, Inc. Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc.
Mountain America Credit Union (U.S. Only)
(For Arizona, Utah, and Nevada residents only)
Mountain America Credit Union offers several education loans to help you finance your education. Whether it is going to a college or university, continuing your education or you want to get a specific certification, we have the right solutions for you.
Mountain America offers an Education Line of Credit will help you finance your education if:
- You do not qualify for Federal Aid
- Your school does not offer Federal Stafford Loans
- You are attending a trade or specialty school
- You're taking certification courses
Prior to Applying:
- You must be accepted and registered in the Animationmentor.com 18 month program.
Where to Apply:
- Apply online now (must be set up for Online Branch)
- At your nearest branch
- Call Mountain America's Service Center at 1-800-748-4302
What happens after you Apply?
We'll contact you by e-mail with a credit decision within 24 hours or by phone within 48 hours. If you're approved, the following steps must be taken prior to closing your loan:
1. Submit a School Certification Form (completed by the Financial Aid Office)
2. Complete the Student Loan Financial Counseling Program online by clicking here . Or set up an appointment with our partner, Balance℠, by calling 1-888-456-2227. Tell them you're calling for Mountain America's Required Student Loan Counseling Session. This is a brief hour-long session to go over budgeting and using credit wisely.
A Mountain America Student Loan Representative will contact you to set-up your closing at your nearest branch.
We'll disburse the money by check or wire directly to the school.
Important Facts to Know:
- The loan is in student's name.
- A cosigner is normally required (see below to determine if you need to apply with a cosigner).
How do I know if I need a cosigner?
Are you:
- A U.S. Citizen or permanent resident
- At least 18 years of age
Do you have:
- A satisfactory credit history which includes at least 12 months of borrowing, charging and repaying?
- No liens, judgments, charge-offs, excessive 30,60, 90-day delinquencies on any loans or revolving charge accounts, etc
- Verifiable income of at least $18,000 per year ($1,500 per mo.)
If yes to all: You may be eligible for an Education Line of Credit on your own credit.
If no to any: You will need a cosigner to support your loan application. To make the application process faster, please have a cosigner with you when you complete your application.
- The loan amount is determined by the total cost of education.
- Variable interest rate
- You'll make interest only payments while you're in school.
- You must submit grades or a progress report every 6 months.
- The maximum interest only loan term is 6 years (72 months).
6 months after graduation, withdrawal or if grades haven't been received for 6 months, the Education Line of Credit converts to the Education Repayment Loan.
If you have any questions regarding any of our Education Loans please contact Mountain America's Student Loan Department at 801-325-6130 or 1-800-748-4302 ext 6130.
UK Student Loans
U.K. Residents: Please contact our student loan department at (510) 450-7232 or email us at loans@animationmentor.com for more information on new UK student loan options.