Private Loans

Otis College of Art and Design Continuing Education's financial aid consists of Private Student Loans. This fund will need to be repaid by the borrower. A borrower will need to have an adequate credit history to be approved otherwise a co-signer will be needed. At this time the certificate program is not eligible for any federal aid.

LENDER:	Wells Fargo Education Connection Loans
PHONE	800-378-5526 (option 3)
RATES	See Wells Fargo Page
FEES	2%
MIN. AMOUNT	$1,000
MAX. AMOUNT	planned tuition and fees
REPAYMENT OPTION	Begins after school
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Students are more than welcome to select a different lender who will lend for a Certificate Program at Otis.

The Wells Fargo Education Connection Loan is made directly to the student. So it is the student's responsibility to budget for classes, fees, books and supplies when they receive funds for the whole program. This loan is not intended for housing expenses.

How does it work?

You as a student borrows money for up to the entire cost of attendance. See your catalogue for the amounts based on program. Then contact the Continuing Education office to receive a letter stating the cost of the program so that you can get a loan. Once you are approved (based on credit) then you will receive a check in the mail directly from Wells Fargo to pay tuition. Then you would use the funds to pay for tuition.

What happens if I left the program?

It would be your responsibility to pay the loan back. It is highly encouraged to pay back the loan as quickly as possible so that interest is not accumulating. Interest on the loan starts the moment the student receives the funds.

How do I know which classes to take?

The Evening College department can assist you in selecting the classes.

The initial page of the Wells Fargo loan should look like the one below except for the loan amount: