Loans

It is a privilege to be part of a country where practically everyone has the opportunity to further his/her education, and in many instances, some type of grant or gift aid is available.

However, grants will not, or were never intended to cover the full cost of education. ICT/ILS attempts to only enroll students who have decided that furthering their education is a very high priority - and a priority worth personal investment. The student should also understand that we, as a matter of practice, will discourage the student assuming unnecessary debt and encouraging the student to "pay as you go" if possible. However, we are committed to helping every eligible student obtain the training desired.

The institution, through the Financial Planning Department, reviews each student's situation on a case-by-case basis. How the student has handled past credit obligations is a key factor in determining the type of student loan that is offered or made available, but be assured there is a plan available to all qualified applicants.

DESCRIPTION OF LOAN PROGRAMS

FEDERAL LOAN – Available at Georgia and Kentucky campuses:

There are generally three types of Federal Loans:

1. Plus Loan - Parent Loan for undergraduate students. This loan is made to the parent of dependent students. Loan amounts are limited to the total cost of attendance, less all other financial aid.
2. Subsidized Federal Direct Loan - Available to dependent and independent students with a limit of $3,500 for the first academic year and $4,000 for the second academic year. In addition to all other requirements, the applicant must demonstrate that all funds will be used for educational purposes only.
3. Unsubsidized Federal Direct Loan - Available to independent undergraduate students with generally the same terms and conditions as noted above, except there is not an income requirement. Loan limits are $4,000 per academic year.

All students who are deemed eligible for the above loans must complete the required application and complete Entrance counseling online, which includes an understanding of all loan obligations and responsibilities.

Upon withdrawal, graduation, or a change in enrollment status to less than one-half time, an Exit counseling session is required.

ALTERNATIVE LOANS – Available at all campuses

This institution has several sources of alternative loans for students who either are not qualified for federal loans, or do not desire this type of loan.

These loans have a higher interest rate and require payments at the time the student begins his/her studies. However, the student has the right and privilege of pre-paying the loan balance at any time.

Regardless of how a student chooses to fund his/her education, we encourage all students to remember this: An education is an investment in oneself that lasts a lifetime. Better jobs, higher income, greater self-esteem, increased opportunity, and an improved lifestyle are almost always the result of a well-planned education.

The financial planning staff will provide all of the necessary information for the student who needs or prefers this type of financing.

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