APC Deferred Loans
Some students may require more time to make full payment on their education. The APC offers deferred student loans to help students fund their education with terms that are designed for success after graduation. Loan terms are determined by program cost, length of loan, and a risk factor.
Our deferred loans are designed to set students up for success. With the exception of a down payment, payments are deferred until the end of your program so students can focus on their education without the distraction of making payment.
Before you can fill out your Loan Application, we require you to submit your Enrollment Application and pay your $50 application fee. If you haven't done so, please click here to get started.
If you would prefer to fill out a paper application, you may contact the admissions department at [email protected] to receive a paper copy or you may stop by school to fill it out in person. Please just make sure you have the documents listed above.
Loan Co-Signer Application
There are a few reasons you may be asked to provide a co-signer on your loan application. If you are not confident in your financial situation, you have a credit score below 500, or are asked by our team to provide one, please have your co-signer fill out a Loan Co-Signer Application by clicking the button below.
Upon completion of the loan application and receipt of your credit report, we will reach out with one of three responses: ACCEPTED, REJECTED, or INCOMPLETE.
An INCOMPLETE status simply means more information is needed to complete the process. REJECTED statuses are not final. In many cases, we will work with applicants to come up with an option that is better suited for their financial situation. We may suggest attending a shorter program or bringing on a co-signer to improve your odds of approval.
Frequently Asked Questions
Although your reoccurring payments are deferred until the end of your program, you will be required to pay a 25% down payment for your schooling. The down payment allows us to lower your monthly payments and increase the odds of success after graduation.
Equipment must also be purchased before the start of your program.
The loan will cover all tuition expenses. The only things not included in the loan are equipment and housing. Students will be responsible for the full amount of equipment before starting school and will make housing payments throughout their program.
APC Deferred Loans require ACH Debit for payment. Checks and credit card payments will only be accepted for the down payment, but credit card payments will include a 3% merchant fee.
Students of all credit scores will have an opportunity to apply for funding. We expect that many students will have no credit score when applying for our deferred loans. We require that any student with an Experian credit score below a 500, provide a co-signer on their loan. This could be a parent, grandparent, spouse, or guardian. The main purpose of the co-signer is to guarantee your loan, so if you find yourself unable to make payments, they will be there to help out.
We will use the information provided by you, as well as your credit report, to determine a risk factor. We understand that unfortunate circumstances can ruin a credit score. We are more concerned with the story your report tells us about how fiscally responsible you are.
A co-signer will be required if you have an Experian credit score lower than a 500, or if we believe your financial history makes you a higher risk candidate.
Students who are applying for a deferred loan will not be eligible for our standard discounts.
Scholarships, as well as discounts for days tested out of a program, will be applied. These values will not affect the monthly payments or down payment, but will act as a credit and applied to the end of your loan. Simply put, it will shorten the length of your loan.