The Career Training Loan is designed to help you finance your education or training and offers hundreds of dollars in savings over other financing options. It can be used for technical training or trade school, distance learning or other continuing education programs to cover the total cost of education and certain related expenses.

This loan is geared to your success and Sallie Mae made it easy to apply. SLM Financial provides fast decisions and superior customer service. Check to see if your school participates in the Career Training Loan program.

Eligibility
You must be a U.S. citizen, a U.S. national, or a permanent resident and must be creditworthy. You may be enrolled full, half-time or less-than-half-time. If you have no credit or a poor credit history, you may still qualify for a loan by applying with a creditworthy cosigner.

Limits
Minimum loan amount is $1,000 and you can borrow up to the total cost of the education, less other financial aid received, for tuition and 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. Terms may vary by school and program. A portion of the tuition must be financed to be eligible to apply for expenses.

Interest & Fees
Your interest rate spread is determined by your and your cosigner's (if you use a cosigner) credit history.

For interest rate and fee information, please visit Sallie Mae.

Repayment Terms
Repayment begins 30 days after disbursement. The standard term is 15 years with minimum payments set at $30 a month per loan. You have the option of making interest-only payments while in school and there are no prepayment penalties. After six consecutive payments, you may apply for up to two deferred payments a year.

Cosigner Release Option
Once you make 24 consecutive, on-time payments and meet the minimum cosigner release credit requirements, you may apply to release your cosigner.

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