Tuition & Financing

Denver School of Nursing is an eligible institution to participate
in the Career Training Loan program through SLM Financial Corporation (a Sallie Mae Company).

The Career Training Loan has been designed specifically 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.

The loan is geared to your success and we've made it easy to get approved. The process is fast and acceptance rates are high—about 70%.

The primary terms and conditions of the program are explained below. If, after reading through them, you still have questions,
call SLM at 888/2-SALLIE.


Borrower 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 co-borrower.

Loan limits:
The minimum amount is $1,000 and you can borrow up to the total cost of the education, less other financial aid received.
Interest rates and fees:
Interest rates are variable (monthly) and based on the Prime Rate plus a spread. Your interest rate spread is determined by your and your co-borrower's (if you use a co-borrower) credit history. The interest rates start at Prime +1% with fees as low as 2% for borrowers with excellent credit.

Repayment term:
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 6 consecutive payments, you may apply for up to two deferred payments a year. Final approval is at the discretion of SLM Financial Corporation.

Co-borrower Release Option:
After you have made the first 24 consecutive on-time scheduled payments of principal and interest, you may apply to have your co-borrower released. Student borrowers must meet applicable credit requirements at that time.

Annual Percentage Rate (APR) Example:
If a borrower received a loan for $7,000, incurred a loan fee of 4.36% (including processing fee) and the loan maintained a constant variable rate of 14% during the 15-year repayment period, then the borrower's APR would be 14.86% and the monthly payment would be $97.29 for 180 months. The actual APR may increase over time.

Please ask your Admissions Representative for an application.

(All major credit cards are accepted by Denver School of Nursing)