Financial Services

Institutional Loan Information

Institutional loans are loans funded by Institute of Health Sciences. We have different loan programs which have different terms and conditions. Eligibility for each of these loans is limited to U.S. citizens and permanent residents, based on financial need and is awarded at the discretion of the financial aid office. Institutional loan programs require for you to fill out and request a credit report.

Institutional Loans are various short term loans. The school awards these loans to help undergraduate and graduate students pay for educational costs. Many donors contribute moneys to these various funds. When the borrowers repay the loan the money goes directly into the appropriate loan fund. The moneys are then redistributed to current students as new Institutional Loans.

Interest Rate

IOHS Offers a Low-Interest Monthly Payment Plan.

Students have many choices to help them meet educational expenses that are not covered by financial aid or hospital reimbursement. One option that many colleges now offer is a low interest short term institutional loan. While there are differences among plans, general features of monthly payment plans include:

• The option to pay educational expenses over time with minimal interest charges. Maximum time for a short term institutional loan is 36 months.

• Minimum of 10% down payment of total loan is required to apply for an institutional loan.

• The annual interest rate of the student loan is charged at a rate of 6% for the school year of 2010-2011.

How this Plan Works

Generally, colleges and universities work with a tuition plan company that administers a school institutional plan (manages billing, processes payments, and provides customer service to students and families) for the school. The Institute of Health Sciences has chosen a company, with over 37 years of educational experience by the name of Tuition Options, who will administer our institutional loan programs. The loan will be granted by the school, but will be administered by Tuition Options.

The entire process for applying for your loan made be done online with the financial aid department of IOHS.

• Contact the Financial Department of IOHS

• Be a US. citizen or permanent resident.

• Demonstrate financial need and acceptance to IOHS

• Acceptable Credit Report and Application as determined by IOHS

Financial Responsibility

A student who does not pay, or make and follow the conditions of a satisfactory arrangement to pay, a bill for tuition and fees shall not be entitled to attend classes, take examinations or do other work for credit, and no grade or credit will be given for any work done during the semester to which there is default. Any registration or advance registration for a subsequent semester will be canceled. The student will not be permitted to return to the school until the student (1) pays, or makes and follows the conditions of a satisfactory arrangement to pay, the student’s unpaid tuition and fees; and (2) thereafter is readmitted to the school by the IOHS School Director.

A student who does not pay, or make and follow the conditions of a satisfactory arrangement to pay, any financial obligations to the Institute of Health Sciences shall not be entitled to advance register or graduate from the school until the student pays, or makes and follows the conditions of a satisfactory arrangement to pay, the aggregate amount owed.

Getting Started

If you are interested in obtaining an Institutional Loan, please contact the Financial Aid Department for qualification requirements. Once you have been awarded an institutional loan, you must sign your institutional promissory note and make payments to your Institute of Health Science account through the Tuition Options management firm.

Cash Plan
Our cash plan offers you the advantage of paying for one course at a time, rather than an entire semester or year at once. This can help you manage your cash flow and personal budget.

The Cash Plan requires that 100 percent of tuition and any applicable fees be paid prior to each course start date. You may choose to have your tuition, fees automatically charged to your credit card. Automatic payments are charged according to the timelines set by the start date of each semester.

If you choose the Cash Plan, it is your responsibility to pay for each course prior to each course start date. Invoices are NOT sent prior to the start of each course.