The University of East-West Medicine is approved by Sallie Mae (SLM) Alternative Loans for Career Training for low-payment, low-interest, long-term student loans as low as $30/month, depending on the type of loan you qualify for. Interest rates depend on credit history of the borrower (and co-borrower, if applicable), and are based on the current prime rate + 1% with processing fees as low as 2% for borrowers with excellent credit. (Students must be Permanent U.S. Residents or U.S. Citizens and have good credit).

The SLM's Deferred Payment option is for borrowers needing a monthly payment with the most flexibility possible. As students work toward achieving their career goals, they may elect to pay only $10.00 per month for up to 12 months, regardless of class term. This $10.00 per month payment will be applied to accrued interest during the deferment period. Full interest and principle payments will begin at the end of the deferment period. Traditional Chinese Medicine School

We strongly recommend a credit-worthy co-borrower to increase your chances of acceptance and lower your payments and interest rate. Once you make 24 consecutive, on-time payments and meet certain other requirements, you may apply to release your co-borrower.

Instant approvals: To apply on-line with Sallie Mae, please go to www.slmfinancial.com or print out an application form (direct to loan form.pdf)

Instructions to apply for student loan:

1. Read the information on the Sallie Mae website and write down your questions
2. Complete Sections A, B, and C on the on-line pre-qualification application
3. Sign at the bottom of the application (co-borrower must also sign, if applicable)
4. Submit application to the Admissions Office
   
   Below are some examples of payments for a 15-year loan:

Student Loans Approval Availability

• With a Sallie Mae Alternative Student Loan, you may borrow up to the total cost of the education. An additional loan amount may be borrowed by the student for books and supplies (check goes directly to student)

Interest-only payments while student is still in school
Loan payments may be as low as $30 per month with low interest; loan length may be up to 15 years
Student loan interest may be tax-deductible (check with your tax advisor)

After 6 consecutive payments, you may apply for up to two deferred payments a year. Final approval is at the discretion of SLM Financial Corporation.

Student Loans/Financial Assistance

Students applying for loans must have an acceptable credit rating, otherwise a co-signer and/or a larger down payment toward the student loan may be required. Monthly payments are based on amount borrowed, duration of loan, and interest percentage charged.

Pre-payment of Student Loans

Interest on student loans only accrues on the unpaid balance, and there is no pre-payment penalty.
Students may save interest on their student loan by making larger payments or by paying it off early.

Delinquent Tuition/Student Loan Policy
If a student is late on a payment through the SLM Loan program, he/she will be notified in writing by UEWM Administration or SLM Loans and given a one-week grace period in which to make the payment. If payment is not received by the seventh day, the student will be suspended from school until the balance due is paid. Students will be recorded as an unexcused absence for each day of suspension and will be required to make up these unexcused absences. Students on suspension will not be allowed to take exams, turn in make-up work, or participate in evaluations.

Defaulted Student Loan: Reinstatement
Students who have defaulted on a student loan may be eligible to apply for refinancing or re-instatement under certain conditions. The student will be required to:

• Submit a new student loan credit application
• Submit a $350 student loan re-application fee
• Submit at least 10% of the standing previous loan balance with the new loan application
• Sign a new loan payment agreement
• Submit a new credit application (students with an unsatisfactory credit report must also have the signature of a credit-worthy co-signer)

• Refinancing or reinstatement is subject to the approval of UEWM and, if approved, will be reinstated under the prevailing loan payment terms and at a higher rate. Reinstatements or refinancing apply only to private student loans and do not apply to any governmental or third-party loan-financing arrangements.
  
• The loan is geared to your success and SLM has made it easy to get approved. The process is fast and acceptance rates are high—about 70%.

The primary terms and conditions of the program are explained below. If, after reading through them, you still have questions, call SLM at 888/2-SALLIE.

*Please contact UEWM Administration office at (408) 733-1878 to begin your Sallie Mae (SLM) alternative loan today. Students must be Permanent U.S. Residents or U.S. Citizens and have good credit.