There are many options when it comes to paying for school. In-House financing is available to cover the costs of your tuition with low monthly payments over time. To get started, simply click the link below to complete the online application.
What is in-house financing?
In-house financing is a type of loan provided by The Mitchell School of Business directly to the student, allowing them to pay for their tuition. With in-house financing, you’re getting your education and a loan - all in the same place. Going straight to the source means more flexibility than applying for a loan through a bank — especially if you have less-than-perfect credit.
Who is Paramount Capital?
Paramount Capital is our in-house Loan Servicer. Since 1997, Paramount Capital Group has been providing alternative financing for trade schools, technical schools, and other educational service providers. They have established innovative solutions that traditional lenders do not provide, allowing Schools to offer an education to individuals with lower or limited credit histories.
Will this help rebuild my credit?
Yes. Payments are reported to the 3 major Credit Bureaus. So it's important to select a monthly payment amount that is comfortable for you.
Is my approval guaranteed?
Yes. Approval is guaranteed unless you are under 18, or currently in bankruptcy. After you apply, please allow 24 hours before contacting your school representative. Applications are not reviewed over the weekend. If you apply late on a Friday, you may need to wait until Monday afternoon to follow up.
What is the enrollment deadline?
You will be contacted by a Finance Department representative within 24 hours of your registration in order begin the in-house financing process. Once your application is completed and your loan is approved, you may start classes the following Monday.
How do I apply ?
By clicking the link above, or, if you are on mobile, the school will provide you with a link to apply. Unfortunately, the link is not mobile friendly at this time.
How much do I need to borrow?
The total amount of the tuition minus any down payment or scholarship that your school may offer. Paramount’s max loan amount is $15,000.
What will my interest rate be?
Paramount’s fixed interest rates range is 15.99%.
How is the interest calculated?
Paramount’s loans are simple interest. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments. It is the cost of borrowing money without compound interest such as used in credit cards. Essentially, simple interest is good because it will cost you less.
If I lower my term, can I get a better interest rate?
No, your term does not affect with your interest rate.
What fees are involved in this loan?
There are no fees added to the loan.
Where do I send my money?
All payments are made to Paramount Capital. Paramount will pay the school directly.
How long will I be repaying this loan?
Our standard term is 60 months (5 years). However, it could be 12 – 48 months depending on your loan amount. Once approved, you can find your term on the first page of your Retail Installment Contract.
Can I pay this loan off early without penalty?
Yes. Paramount has no penalties for paying your loan off early. With an early payoff, you will also save on interest.
Can my payment be deferred?
Since this is a private student loan, payments will not be deferred.
How does the loan process work?
All contracts are generated through DocuSign for e-signature. Your school representative will be the first one to sign and attach supporting documents for your training. After they have signed, you and your co-signer will receive an e-mail to sign through the e-mail address that was provided on your application. Once everyone has finished singing, Paramount will complete the process, and everyone will receive the complete executed documents in their email.
How do I sign my loan documents?
You and your co-signer will receive an e-mail to sign through the e-mail address that was provided on your application. If this is your first time using DocuSign, you will adopt your signature. Read through the contract and sign at each marked flag. You will be prompted to upload a copy of identification. You may also be prompted to upload proof of income. DocuSign is mobile friendly.
Mitchell School of Business is proud to be an equal opportunity institution of higher learning and is committed to creating a diverse and inclusive learning environment for all students, without regard to race, color, religion, sex, sexual orientation, age, gender identity or gender expression, national origin, disability or veteran status. We will consider for enrollment qualified applicants with arrest and conviction records. Mitchell School of Business also complies with the employment eligibility verification requirements of the Immigration and Nationality Act. All applicants must have authorization to work for Mitchell School of Business and it’s subsidiaries.
We love our students, so feel free to visit our campus during normal business hours.
New Jersey Campus