Altura provides the ability to transform from student to professional in less than one year!

Every student comes to Altura College with unique financial needs. We help pave the path to your new career by offering student loans and grants to those who qualify.

Federal Student Loans

Federal Direct student loans are borrowed directly from the federal government by students by their parents. If you’re interested in borrowing Federal Direct student loans to help pay for your education, the first step is to complete the Free Application for Federal Student Aid (FAFSA®) to determine your eligibility. Student loans, grants, and scholarships are available to those who qualify. For more information on Federal Student Aid, download The Guide to FederalStudent Aid at https://studentaid.gov/h/apply-for-aid/fafsa . Altura’s federal school code (FSC) is 042844.

You can access your Direct Loan account information 24/7 at www.studentloans.gov, and work with your loan servicer to choose the repayment plan that works best for you. You can also work with your loan servicer to select a repayment plan. Repayment starts once you graduate, stop attending or drop below half-time enrollment.

There are two additional steps you need to take to secure this type of loan:

• Sign a Master Promissory Note (it’s a legal document that says you promise to repay your loans and any interest and fees to the U.S.Department of Education)
• Complete Loan Entrance Counseling

Federal Direct PLUS loans are credit-based loans available to the parent(s) of students enrolled at least half-time. PLUS loans aren’t based on financial need. Loan amounts are based on the student’s Cost of Attendance less other financial aid. Repayment starts 60 days after the loan is fully distributed unless the borrower requests in-school deferment.

Parent PLUS borrowers will also need to:

• Complete a PLUS loan application
• Sign a PLUS Master Promissory Note

Financial Responsibility

Borrowing money to help pay for your education is a big step. It’s important to take the time to understand the responsibilities that come with that financial assistance. When you take out a loan, you’re responsible for full repayment of the amount you borrow, plus any interest. You’re responsible even if you don’t complete the program or graduate.

If you fail to repay a loan, you will be considered in default which can result in:

• Your loan becoming immediately due and payable
• Wage garnishment
• The withholding of incoming tax refunds and even social security
• Reporting to a national credit bureau
• Ineligibility for future federal or state financial aid programs.

Non-federal Student Loans

Many Lenders (like banks and credit unions) also offer private loans to students to supplement their federal financial aid. Terms of the loan such as repayment and interest rates vary by loan. Lenders perform a credit check to make sure the applicant is creditworthy before approving the loan. A loan applicant might also have to provide a creditworthy co-signer before a loan will be approved.

Washington Worker Retraining Program

Altura College participates in the Washington Worker Retraining Program which provides assistance with tuition and other program costs based on eligibility. Find out more information at sbctc.edu/paying-for-college/worker-retraining-student.aspx .

Washington State Residents

For Washington State residents seeking information and resources about student loan repayment, or to submit a complaint relating to your student loans or student loan servicer, please visit wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at loanadvocate@wsac.wa.gov. If you have any questions, please contact Altura College’s financial administrator at (509) 334-3444.