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tutorial financing loan

Tutorial

the Tutorial Financing Loan
helps you give your kids an extra edge.

Could your children benefit from some extra one-on-one tutoring? Whether it's to help them overcome a learning challenge, catch up on missed lessons, or gain confidence in preparing for standardized tests, Tutoring Centers can be a great resource. And Sallie Mae® has a loan to make that possible, so your kids can get the help they need.

Applying for a Tutorial Financing Loan is easy. And as a Upromise member, you'll be happy to know that with Upromise Loan LinkSM, you can use your Upromise savings to help pay down your eligible Sallie Mae loans. Now that's smart.

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eligibility

Applicants must be able to provide proof that the student is enrolled at an eligible tutoring center. This may be any document that displays the student's name, enrollment period, and the name of the tutoring center, such as a tuition bill.

features

  • Interest rates and fees that reward good credit.
  • Repayment terms of up to 15 years to keep your payments affordable.
  • No aggregate loan limit.
  • Easy online application and account management.
  • No prepayment penalty.
  • Creditworthy borrowers may request a cosigner release after making the first 24 consecutive, on-time monthly payments of principal and interest as initially scheduled.

loan terms

Loan limit
There is no aggregate loan limit.

Interest rate
The Tutorial Financing Program has interest rates that reward good credit and are as low as Prime + 0% for borrowers with excellent credit. Interest rates are variable and reset monthly.

Fees
Loan fees are 0%-6.5%.

Repayment

  • You can take up to 15 years to repay the loan.
  • Repayment for the Tutorial Financing Program begins 30 days after the loan's disbursement.

legal

  • SLM Financial Tutorial Loans are private, credit-based loans, and are not federally sponsored or guaranteed.
  • Tutorial Loans are made by state or federally chartered financial institutions and are sold after full disbursement to a Sallie Mae company.
  • Private tutorial centers act on their own behalf and do not represent you or SLM Financial.
  • Repayment begins at least 30 days, but no more than 60 days, after disbursement.
  • The APR will increase if the Prime Rate increases.
  • Minimum monthly payment is $30.

Upromise is not a lender or loan broker, except where its activities require it to be so licensed. Upromise does not broker or make loans and is not engaged in the business of making or brokering loans. Upromise does not procure, solicit, offer, arrange, place, find, obtain, endorse, negotiate, originate or process loans, or assist or advise anyone in obtaining, procuring or making a loan (or attempt or represent that it will to do any of the foregoing). Upromise does not participate in credit decisions in connection with loans. Upromise is not an agent for any lender (we refer to these as "Lenders"), or for any consumer or for any person seeking a loan. Upromise's services on behalf of any Lender in connection with any loan are limited to administrative and marketing services. Upromise does not guarantee that completing an application for credit will result in your receiving a loan or credit card from a Lender.