What are the eligibility requirements for Career Training Loans?
In addition to having an excellent credit, you must be either a U.S citizen or have a permanent residency status.

What are the features of a Career Training Loan?
A career training loan borrower stands to gain numerous benefits that include:
It enables the borrower to receive money that covers tuition and other education-based expenses.
All Sallie Mae-serviced loans are combined and billed the borrower, which increases the ease of payments.
With a career training loan, a borrower is free from prepayment penalties.
All accounts are managed online and round the clock.
A career training loan comes with no average loan limit.
After months of on-time principal and interest payments depending on the agreement, a borrower with an established credit could elect to request for consigner release.
Borrowers who are dedicated to managing their credits well have the chance of qualifying for lower rates of interest. The career training loan interest rates, which reward excellent credit, vary and are reset monthly.

Borrowers of this loan enjoy flexible repayment terms that include a minimum $30 payment per month. Under the standard repayment deal, borrowers pay up a fixed amount of principal and interest monthly. The interest-only repayment deal enables borrowers to pay up only the loan interest while in school leaving the principal repayments until the completion of school. There’s also the $10 deferred repayment option where borrowers could choose to delay payments for as long as 12 months only if that will not exceed the expected date of graduation on the application. This option incurs additional $10 monthly payment when deferring. The standard repayment and payment of principal and interest respectively begins after deferment.

Both the State and Federal chartered financial institutions make career training loans, which are sold to a Sallie Mae company after full disbursement. Both Sallie Mae Bank and Sallie Mae lender partners are responsible for Career Loan Training funds. Upon processing the request for consigner release, the account may seize to remain current. Other career training and continuing education loan providers include Wachovia (Continuing Education Loan), Wells Fargo (Education Connection Loan), Student Loan Xpress (Career Xpress Loan) and Key Bank (CareerLoan). It is of utmost importance to consider fees, repayment terms, interest rates and deferment options while analyzing your options.