Tutorial financing loan
Tutoring centers can provide the skills to do better in school and on standardized tests. Those enhanced skills can translate into the confidence to do better in all aspects of life. With the Tutorial Financing Program, the cost of going to a tutorial center does not have to be an obstacle.
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 that reward creditworthy borrowers.
- If you have less-than-ideal credit or no credit at all, you may still be eligible for the Tutorial Financing Loan by applying with a creditworthy cosigner. Even if you have an established credit history, you may be eligible for a lower interest rate if you apply with a creditworthy cosigner.
- Easy online application and 24/7 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.1
Loan terms
Loan limit
There is no aggregate loan limit.
Interest rate
- The Tutorial Financing Loan has interest rates that reward good credit. Interest rates are variable and reset monthly.
- Manage your credit well and you may qualify for a lower interest rate.
- Contact your Center Director for specific information regarding rates and fees.
Repayment
- Flexible repayment options are available.
- Repayment for the Tutorial Financing Program begins at least 28 days, but no more than 60 days, after the first disbursement.
Another way to help pay down your loan
With Upromise Loan LinkSM student and parent borrowers who join Upromise® can link their Sallie Mae loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae-serviced student loans. Visit www.salliemae.com/upromise to learn more and enroll today.
Legal
Tutorial Financing Loans are funded by Sallie Mae Bank® or a Sallie Mae lender partner. Tutorial Financing Loans are made by state or federally chartered financial institutions and are sold after full disbursement to a Sallie Mae company.
1 The account must remain current until the request for release is processed. Borrower credit qualification applies. Borrower must be a U.S. citizen or permanent resident at the time the cosigner release request is processed.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS.
Subject to the above, Tutorial Financing Loan information applies to loan applications received on or after June 22, 2008 and is subject to change.
Upromise is not limited to Sallie Mae loan customers.
Sallie Mae and Sallie Mae Bank are registered service marks of Sallie Mae, Inc. Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc.