Student Financial Assistance
Students (PLUS) loan. If a parent is approved for a Parent Plus loan, students are not eligible for the Sumner College Private Loan. Dependent student must be eligible for the additional Unsubsidized Stafford Loans to apply for the Sumner College Loan. • The school may require a borrower to take a financial literacy program as a condition of receiving this loan • Approval for this loan is based on the data submitted by the borrower and the borrower may be required to provide additional documentation to support their data • There is no prepayment penalty on this loan • Sumner College loans may be sold to a third party, a related party or to the school. As long as the borrower continues to meet the requirements of the loan, the borrower benefits applicable to the loan will remain effective • Sumner College Loans are not eligible for deferment or forbearance • When the student is no longer attending, payments may increase and payments will include principle and interest • Any additional funding received from the Institution or outside sources will be applied directly to the loan principle balance Student information regarding these programs is available in the Financial Aid office. The college has a Director of Financial Aid to assist in selecting the right financial program for applicants and help with completing applications.
writing if there is a change in name, telephone number, address, graduation date, or if the student is withdrawn from the school • If the loan is not repaid, it will be reported to a National Credit Bureau and have a negative effect on the borrower’s credit rating • If applicable, the borrower will have to pay additional costs including but not limited to: collection costs, fees, legal and court costs • This is NOT a federal loan • A borrower is not eligible for this loan if they are not eligible for the federal educational loans, such as the Federal Direct Stafford Loans • If the agreed upon payments are not made or the payments become delinquent, the student could be withdrawn from school or unable to progress in the program • The borrower must read the promissory notes and disclosure statement for this and every loan. The terms and conditions of this loan may differ from the terms and conditions of any additional loans offered in the future. • A dependent student, as defined by the Free Application for Federal Student Aid (FAFSA) instructions, will be advised to ask their parents to apply for a Federal Parent Loan for Undergraduate
“I tried getting into an RN Program for 10 years prior to starting at Sumner College. I am now an RN working at Coffee Creek Corrections. The Instructors were awesome.” -David ADN Graduate
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