IYISF Teacher Training Tuition & Financial Aid

500-hour Program

 

Application Fee (non-refundable)	$25.00
Quarterly Registration Fee [for students starting Fall 2004]	$150.00
Association Membership ($45/yr)	$90.00
46 unit program ($110 per unit)	$5060.00
Two elective workshops ($150-550 each)	$300.00-$1100.00
Required Texts	$220.00
Recommended Reading	$60.00
Props: blankets, blocks, belts, chair (recommended)	$150.00
Graduation Fee	$30.00
Total Cost	$6085.00- $6885.00

 

200-hour Program

 

Application Fee (non-refundable)	$25.00
Quarterly Registration Fee [for students starting Fall 2004]	$100.00
Association Membership ($45/yr)	$45.00
18 unit program ($110 per unit)	$1980.00
Two elective workshops ($150-550 each)	$300.00-$1100.00
Basic Teaching Techniques Workshop	$550.00
Practicum	$200.00
Required Texts	$220.00
Recommended Reading	$60.00
Props: blankets, blocks, belts, chair (recommended)	$150.00
Graduation Fee	$30.00
Total Cost	$3085.00

Financial Aid

 

The Iyengar Yoga Institute of San Francisco is very pleased to announce the availability of a vocational training loan program for students in our Advanced Studies / Teacher Training Programs. These low cost loans are provided through SLM Financial, a subsidiary of Sallie Mae, the nation's leading provider of funding and servicing support for education loans.

Some of the key features of this loan program are:

• High approval percentage -- 70% of applicants are approved
• Apply with co-borrower, if needed for lower interest rate
• Up to 15 years to repay
• Quick approval process: The entire process can take as little as 4 - 5 days
• IYISF is funded directly via electronic funds transfer
• Download the SLM Financial contact information. (requires Acrobat Reader )
• Overview of Student Loan Process
• Download our Overview of Student Loan Process. (requires Acrobat Reader )

 

STEP 1 – Qualification

1. Minimum loan amount is $1000
2. Must be a US Citizen or Permanent Resident to qualify
3. Interest rate is based on borrower’s credit rating
4. Interest rate formula = prime lending rate + variable which ranges from 1% – 9% based on borrower’s credit rating Prime rate = 5.25% (as of Jan. 2005)
5. Interest rate adjusts monthly through the life of the loan, based on variations in prime lending rate
6. Apply with Co-borrower to improve interest rate
7. Any borrower who has previously defaulted on a student loan will be denied automatically

STEP 2 - Determine loan amount

1. Include tuition, fees & membership—refer to School Costs 2004-2005 or School Costs 2005-2006 (requires Acrobat Reader ) for specifics by year and program
2. You may also borrow an additional 60% for books, props & other educational expenses
3. Tuition & fees are disbursed directly to IYISF
4. Additional borrowed monies are disbursed to the student
5. Supplemental Fees charged by SLM Financial are added into the loan amount These are one-time fees charged to cover loan application and processing costs, and to protect against defaulted loans
6. Supplemental Fees vary from 2% to 9% of loan amount, based on credit rating of borrower

STEP 3 - Complete & Submit Application to SLM Financial

ON-LINE APPLICATION

1. Apply & submit online at www.slmfinancial.com – click on “Career Training”
2. When promted enter IYISF school code of 606474
3. Borrower fills out Section A and C
4. Co-Borrower, if needed, fills out Section B
5. IYISF fills out Section D later in the process
6. After clicking on the submit button, a credit / income analysis is run and a decision is made within 30 seconds  
7. A message then appears on the screen to indicate whether the borrower is approved, denied or pended

HARDCOPY APPLICATION

1. Download hardcopy application (requires Acrobat Reader ) or obtain from IYISF office
2. Borrower fills out Section A and C
3. Co-Borrower, if needed, fills out Section B
4. IYISF fills out Section D before the application is submitted
5. Submit hardcopy to SLM Financial via fax or US mail per instructions on application
6. SLM Financial responds to hardcopy applications within 24-48 hours after receipt  

STEP 4 - Application Processing

1. When the loan is approved, SLM Financial will email the Promissory Note and Disclosure Statement to IYISF within 4 hours
2. When the loan is pended, a hands-on underwriter will reevaluate the loan and render a decision. 
3. If the loan is approved after the second look, the documents will be sent to IYISF within 24 hours
4. If the loan is denied, IYISF is notified within 24 hours and the student can now resubmit for approval with a co-borrower
5. IYISF will immediately forward communication/documents from SLM to the borrower for appropriate follow-up

STEP 5 – Funding the Loan

1. Once the loan is approved, the borrower (and co-borrower if applicable) must promptly provide IYISF with the following:
2. Signed Promissory Note and Disclosure Statement
3. Legible copies of Photo I.D’s for all borrowers (Driver’s License or Passport preferred)
4. Current paystubs for all borrowers (within 30 days)
5. Borrower’s (and co-borrower’s) signature(s) on loan application
6. Once the completed package is received by SLM Financial, the funds are wired within 48 to 72 hours

STEP 6 – Repayment

1. Borrower can request up to 4 separate disbursement dates, corresponding to quarterly or semi-annual registration deadlines.
2. Saves money—interest accrues only on funds that have been disbursed to IYISF or to borrower
3. Repayment period begins 30 days after each disbursement
4. Repayment can be up to 15-years with minimum $30 monthly payments
5. Refer to Payment Schedule to help determine monthly payment based on loan amount, interest rate and term of loan (requires Acrobat Reader )
6. No penalty for early repayment Registration
7. Please use the quarterly registration form (requires Acrobat Reader ) to register for classes in the Advanced Studies/Teacher Training program.  You must apply and be accepted first.