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Delphi University is authorized
to provide Career Training Loans/Student Financing through SLM
Financial, a Sallie Mae company.
SLM Financial provides private, unsecured, credit-based loans
for tuition and, if you choose, also for expenses. Loan rates
are based upon the credit history of the student/borrower, with
rates that start at the current Prime Rate of 6.00%.
Students can attend the school based upon their own schedule and
Delphi’s Class Schedule.
Borrowers must be US citizens or Legal Residents (Permanent
Resident/Alien Card, 1551 Stamp, or Certificate of
Naturalization), meet established credit requirements, be of
legal age, and can use credit worthy cosigners if necessary to
secure loan approval and lower interest rates.
Applicants can borrow the total cost of tuition plus an amount
for school-related expenses & costs (i.e. airfare, travel, etc)
in an amount of up to 60% of the tuition amount, up to a maximum
of $6000.
Payments terms are extremely flexible and range from deferred
monthly payments of $10 per month until schooling is completed,
monthly interest-only payments, or standard monthly payments of principal
and interest. After schooling is completed, standard terms of
interest and principal will apply. You can choose a repayment
schedule ranging from 12 months up to 180 months.
Applicants can apply for up to the total cost of their
education for tuition, and other education-related expenses.
Minimum loan amount is $1000.
The Annual Loan Limit is the total cost of education, including
tuition and expenses, with no maximum, subject to credit
approval.
Expense Limit – Up to 60% of tuition amount, not to exceed
$6000.
Interest Rate – a variable rate based on the Prime Rate (as
published by the Wall Street Journal) plus an additional tiered charge
based on borrowers (and cosigners) credit rating. Loan payments adjust
annually on the anniversary date of the loan based on the then current
interest rates. The current prime rate as of October, 2007 is 7.75%.
Excellent
Credit – 6.00%
(Prime Rate) |
Good Credit
– 8.00%
(Prime + 2%) |
Fair
Credit – 12.5%
(Prime + 6.5%) |
Loan Fee - A loan fee will also be charged, the amount of which
is based upon credit history.
Term – You can choose a repayment plan of twelve
months up to one hundred eighty months.
You can choose one of three finance options:
Deferred Payments – You can defer your loan for
the duration of your in-school period, and make $10 monthly
payments (applied to interest) during the deferment period. When your schooling is completed, standard terms will
apply.
Interest Only payments – You can choose to make monthly interest
only payments during the in-school period. When your schooling
is completed, standard terms will apply.
Standard Terms – You make monthly principal and interest
payments.
Payments begin 30 days after the first disbursement.
Prepayments can be made anytime without penalty.
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Example – If you have excellent credit and apply
for a full term standard loan (180 months) through the
Sallie Mae Program, you could complete the In-Depth
Channeling, and the Metaphysician Practitioner Program or
RoHun™ Therapist Program, and be a Certified Metaphysician
Practitioner or Certified RoHun™ Therapist for payments of
approximately $75 to 80 per month which includes loan fees
and costs. Payments for those with good credit would be
approximately $85 to 90 per month, and for those with fair
credit, approximately $110 to 115 per month.
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You choose the classes/programs you want to take, and you decide
when you want to attend the school.
You decide on the amount and terms of the loan you want. We
recommend that you borrow only what you need.
The tuition amount is charged to your account at the beginning
of each class or class period, so that your account in not
charged for tuition until each class or group of classes
commences.
It is recommended that you enroll in one of our complete
educational programs. Otherwise you will have to apply for a new
loan each time you want to add to your program schedule.
You can reschedule or cancel future classes up to one week prior
to the scheduled class start date. Any applicable refunds will
be credited back to your Sallie Mae account.
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