Students who attend Omega Studios’ School may choose to borrow a loan to assist in paying their education costs. For students who qualify, they may choose to borrow a loan(s) from the William D. Ford Direct Loan Programs for students and parents. The U.S. Department of Education is the lender of all Direct student and parent loans. Students are always encouraged to apply for a Direct Loan before borrowing any other loan because the terms are usually more beneficial to the borrower.
When a student or parent(s) needs/wants to borrow additional money, they may qualify for a private education loan. A private education loan is a non-Direct loan that is made to a borrower expressly for postsecondary education expenses, regardless of whether the loan is provided through the educational institution that the student attends or directly to the borrower from the private educational lender.
Some students do choose to borrow a private loan from a lender other than the U.S. Department of Education, but Omega Studios’ School does not have a “preferred lender arrangement” as defined by the U.S. Department of Education. Omega does not receive any payment, benefit or incentive from any lender for referring students. Nor does any lender receive any payment, benefit or incentive from the school to make a loan to its students.
Omega Studios’ School does not allow its name, logo, etc. to be included on any loan from a private lender, other than the school itself.
While Omega Studios’ School does not have any preferred lender arrangements, it does make available to its students an in-house private loan.
Private Education Loan Lender
Studio Productions – TAPP Loan
The TAPP Loan is provided to eligible students attending Omega Studios’ School. Omega Studios’ School loans does make private education loans to students who qualify.
No student is required to borrow from any lender, including the school. Omega Studios’ School loan is provided only as a service to students, is credit based and may include interest.
Omega encourages students to borrow loan funds, to the limits permitted, from the U.S. Department of Education before private lenders, including the school private loan. In general, the interest and other terms of a loan from the U.S. Department of Education are better than those from a private lender. The school will not certify a private loan for a student without first providing information about student loans that may be available from the U.S. Department of Education.
Omega is not required to make any Preferred Lender Arrangement disclosures because it does not have any preferred lender arrangements.