EDUCATION LINE OF CREDIT

Pay for school expenses not covered by Federal Aid. Mountain America's Education Line of Credit is a private student loan that helps you finance your education if:

• You do not qualify for Federal Aid
• Your school does not offer Federal Stafford Loans
• You are attending a trade or specialty school (Cosmetology, Aesthetician, etc.)
• You are taking continuing education classes
• Your cost of attendance exceeds the amount of FAFSA
• Your taking certification courses (Truck Driving, Aviation, Helicopter, etc)

Important facts to know:

• No origination fees
• No prepayment penalties
• Variable interest rate based on prime and your credit
• Maximum loan amount $25,000
• Loan amount is determined by the total cost of education less any other financial aid received
• Make interest-only payments while still in school
• Maximum interest-only loan term of 6 years (72 months)
• A cosigner is often required.
• Must submit grades or a progress report to Mountain America every 6 months
• Converts to Education Repayment Loan 6 months after graduation, withdrawal or if grades haven't been received for 6 months

Where to apply:

• At your nearest branch, click here to see a full list of branches.
• Over the phone with a Service Center Agent at 1-800-748-4302, option 2
• Click here to apply now

What happens after you apply:

We'll contact you by phone or email with a credit decision within 48 hours. The following steps must be taken prior to your loan being approved:
• Submit a School Certification (completed by your Financial Aid Office)
• Submit income verification (2 check stubs or 2 years of tax returns if self employed)
• 2 references
• Complete the online Student Loan Counseling through our partner BALANCE Financial Education and Counseling (click here). You will need to complete the Credit Matters and Money Management Courses.

Once you have completed the steps above, you will need to sign your Approval Disclosure to accept the terms of your loan (you will have 30 days to accept your loan terms). After you have signed all your loan documents, your funds will be disbursed to your school after 3 business days or the disbursement date set up by your school whichever comes last.