Illinois Health Careers is proud to announce our partnership with the Meritize Funding Program, aimed at helping students build a path to a meaningful career. Students enrolled in all of our programs except CPR and CP who require fees or financial aid, now have a new way to pay for their courses. We understand the significance of education and the financial barriers that may come along with it. That’s why we are committed to assisting motivated students in financing their programs, allowing them to gain tangible skills that will lead to a rewarding profession. Whether you are pursuing a career in healthcare, nursing, or any other field, this innovative financing option will provide you with the financial assistance you need to achieve your goals.
Application Requirements
To help you get started on your journey to funding your education, we have created a comprehensive Application Checklist. This checklist outlines the information and documents you’ll need to provide when applying for a Meritize loan. Let’s walk through it step by step:
- Personal Information: We’ll need some basic information about you, such as your name, contact details, date of birth, and social security number. Don’t worry, we treat your personal information with the utmost confidentiality and security.
- School and Program: Tell us which school and program you plan to attend. Mention the start and end date. Whether you’re aiming for a degree in engineering, healthcare, or business, Meritize is here to support you in achieving your educational goals.
- Academic History: Sharing your academic history helps us better understand your educational background and potential. Providing your transcripts or High School Equivalency (HSE) scores allows us to assess your academic achievements and consider them in our lending decisions.
- Military Background: If you have served in the military, we appreciate your service and want to acknowledge it. Upload your military documents, such as your DD214, to showcase your military experience.
- Co-Borrower Information (if applicable): If you have a co-borrower, please provide their information as well. A co borrower can be a parent, guardian, or another individual who can support your loan application. Having a co-borrower may increase your chances of loan approval or help you secure a better interest rate.
Reasons to Choose Meritize for Healthcare Education Financing
Are you wondering what sets Meritize apart from other funding options? Here are some of the key features that make Meritize the ideal choice for financing your education:
- Quick Loan Options: In just a few minutes, you can check your loan options without affecting your credit score. This streamlined process allows you to explore different loan terms and find the best fit for your financial needs.
- Free Career Services: Meritize understands that education is just the beginning of your journey. That’s why they offer free career services to help you navigate the job market and make a successful transition into your desired healthcare career.
- Flexible Interest Rates: Whether you favor a fixed or variable interest rate, Meritize has options to accommodate your preferences. In this way, you will be able to locate a loan that aligns with your long-term financial objectives.
- Interest Rate Discount with Autopay : Meritize rewards responsible consumers by providing a 0.25 percent interest rate discount for autopay enrollment.
- Full Deferment: We recognise that unforeseen circumstances may make it difficult for you to meet your financial obligations. Meritize gives you the option of a complete deferment, giving you peace of mind during difficult circumstances.
- Grace Period: Meritize provides a three-month grace period, allowing for a seamless transition from program completion to the beginning of your career. This enables you to concentrate on finding employment and establishing yourself prior to beginning loan repayments.
Career Services
When you need help with anything from getting better grades and finding an internship to mapping out a long-term professional path, Meritize professional Services is there for you. Our Career Services are completely free for all Meritize members, ensuring that you have the tools and support you need to succeed.
Meeting with a Meritize Career Success coach is your chance to get individualized guidance that’s perfect for your unique situation and goals. Our team of professionals will work closely with you to make sure you are properly prepared for the competitive job market, from writing an eye-catching résumé to honing your interview skills and even negotiating a salary.
Borrower Assistance Programs
Life is a thrilling adventure, but it can also be full of unexpected twists and turns. At Meritize, we believe that your dreams should never be derailed by financial hurdles. That’s why we’ve designed our borrower assistance services through our Loan Servicer with a unique touch, providing you with comprehensive solutions during unemployment or underemployment.
1. FORBEARANCE
Forbearance is not just a temporary pause on your loan payments; it’s a lifeline when you need it the most. Our forbearance program allows you to navigate rough waters without sacrificing your dreams. Whether you’re facing a job loss, sudden medical expenses, or other unforeseen challenges, you can apply for a forbearance that temporarily reduces or suspends your payments for a set period (typically three months).
2. RE-AGE
This innovative hardship assistance solution is designed to assist borrowers who possess the willingness and ability to make ongoing monthly payments but struggle with outstanding missed payments. We bring you current on your loan by extending the maturity date, based on the number of outstanding payments. This means you get a fresh start without the burden of catching up on missed payments.
Adding a Cosigner
Lenders typically consider three main factors when evaluating a cosigner: credit history, income verification, and debt-to-income ratio. By adding a cosigner to your loan application, you can potentially enjoy several benefits:
Lower Interest Rate: If your cosigner has a strong credit history and financial profile, the lender may offer a lower interest rate for your loan. This can result in significant savings over the life of your loan.
Increased Chances of Approval: If you have a limited credit history or lower income, having a cosigner with a favorable financial profile can increase your chances of getting approved for the loan. The lender will consider both your and your cosigner’s qualifications, enhancing your overall creditworthiness.
It is important to note that adding a cosigner to your loan application does not negatively impact or hurt your chances of approval. However, it’s always advisable to check with your specific lender to understand their policies and requirements regarding cosigners.
Fulfill Your Dreams:
Unlock a Brighter Future with Meritize Funding Program
It’s time to embrace your dreams with the Meritize Funding Program. Our funding program is a trailblazing pathway to unlocking a future filled with possibilities. Say goodbye to the limitations that once held you back, for with Meritize, your potential knows no bounds. We’re thrilled to offer an incredible chance for tuition and financial assistance. Don’t let this exciting opportunity slip through your fingers. Take the leap and discover the remarkable potential of the Meritize Funding Program—a pathway that’ll lead you straight to your career aspirations. Contact our Administrative office and speak to Inna at 224-246-2694 for more information about this financing option. Your dreams deserve to take flight, and we’re here to make sure they do!
