Many of our schools in partnership with ProTrain are pleased to announce GREAT NEWS for our Students in 2014. We often get asked by potential students about what kinds of financial aid or tuition loan assistance we can help provide. Beginning in 2014, our school partner with ProTrain wants to offer a unique tuition payment plan through Education Loan Source that allows Students the ability to spread payments over a pre-set period of time as opposed to paying the full amount up-front. ProTrain is providing this plan to our students to help make their training goals affordable and attainable. A low fixed interest rate applies and the application process is completed 100% online using e-signature validation, with an 800 HELP DESK available to answer all student questions as they decide on their loan application.
Benefits of the ProTrain “TuitionFlex Program”:
The application and processing fee which is broken down as follows must be paid at the time of applying using either a debit or credit card:
The credit criterion is flexible and allows a student to apply alone or with a co-signer for better terms – a 620 FICO score is the baseline for approval.
To allow your students to participate in this program, ProTrain will be assuming 100% of the risk if the student defaults on the loan. As such, any school partner who wants to have this loan program available for their students must be willing to accept only 50% of the normal school profit associated with that course which the student uses a loan to enroll up front; and the remaining 50% upon loan payoff. This still ensures the potential of no loss of funding to the school, and maximizes the potential to serve an ever increasing number of students who may not have all the funding needed up front to be able to take the class at all, but needs the course to either get a career credential or a better job from the courses they do take. NOTE – In 2013, ProTrain saw that our self-pay enrollments totaled 38% of all students– so we are confident that with a loan opportunity this number will grow dramatically in 2014.
Once set up in this program, your students can immediately start to apply for loans to take the courses you have with ProTrain! Your students who want to start a loan application will receive an email with a link to begin the online process shortly after ProTrain has certified your school’s participation in the TuitionFlex Program. The online loan application process provides detailed screen displays and instructions to assist in the entire process and will require the applicant to enter the following information:
NOTE - It is not necessary to enter employment or bank details, as it will not have any effect on the application or outcome. A co-signer may strengthen the application. If a co-signor is desired, that individual will receive a link to the application system to be able to enter his/her own information. A credit check will be completed on the co-signer. The student applicant is required to obtain a co-signer approval before a credit check is run on the co-signer. The co-signer does not need to list employment or bank information on the application. Upon submission of an application, the student shall receive an additional e-mail notification requesting him/her to follow a link to log in, verify the information, and e-sign the application. Once ProTrain receives the notification from Education Loan Source that the student is approved for the loan, their course enrollment will be immediately processed, and the student will be sent their email Welcome Letter with course login/password and administrative information to get them started – the process is that easy!
Students wanting to participate in this new student loan program, please contact ProTrain at info@protrainedu.org , or call us at 866-241-8962 or 800-371-2963.
