Star of Life Foundation does not offer loans to families. The business of student loans is federally controlled and monitored for the companies involved in making these types of loans. Normally such funding is provided under the Federal Family Education Loan Program (FFELP).
When a family is considering a therapeutic school for their student the costs of the long-term assistance can be staggering. It is not unusual for a program to cost over $30,000 a year and can reach much higher. Most families cannot afford the out-of-pocket expense and must look for alternative financing. Fortunately, for some, the federal government has backed specific lending institutions who help with long-term, low-interest funds.
This is the first and most important step in finding funds outside of personal funds. Many schools and programs offer a loan processing service that will help guide the family through the application process. Please request student loan information from the school or program that you are considering. The schools and programs have established a “relationship” with the lending organization and the proper information about the school or program is already set.
Organizations that make student loans might be able to package the tuition with other costs and fees associated to the student’s support. Please check with the loan processor if transportation, uniforms and accessories may be included in the loan application.
Rates from these institutions vary based on various criteria and credit scores. Rates and fees are assigned according to the credit worthiness and debt to income ratio of the applicant.
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Star of Life Foundation,Inc.
