VOMI offers financial aid to all virtual organization leadership students in the form of no-interest private loans with a predefined repayment schedule. All loans are interest-free while in school. The maximum loan amount per student is USD $24,000.
Although eligibility for a student loan is dependent upon a satisfactory credit history, candidates with a less than satisfactory credit history or those facing extreme hardships will be evaluated on a case-by-case basis, taking into account extenuating circumstances.
Please note that if you advise us during the application for admission process that you intend to work - or will continue to work - on a full-time basis during any period of your enrollment at VOMI, you will automatically become ineligible for admission at, or the receipt of any sort of financial aid from, VOMI.
There are two types of loans available:
For US citizens and permanent residents based in the US:
-
VOMI Standard Student Loan
The maximum loan amount per student is $24,000. The loan is interest-free while in school. Repayment begins within 90 days of program completion. If employed by VOMI upon completion of program and during the repayment term, a 10% discount will be applied to each monthly installment payment.
For International Students:
-
VOMI Goodwill Student Loan
The maximum loan amount per student is $24,000. The loan is interest-free while in school. After school, repayment begins within 90 days of program completion. VOMI Master Designation Program applicants who, upon completion of their program, accept permanent full-time employment at VOMI as a Master Virtual Organization Management Trainer for a minimum 2-year term :: IF such a position was offered at the end of their program :: will receive a retroactive 20% discount of the entire loan amount during their term of employment at VOMI. After 6 months of consecutive employment and based on performance, VOMI reserves the right :: however does not have an obligation :: to cancel either part or the full amount of the student loan. If VOMI does not extend an offer of employment, then no adjustment will be made to the original terms of the loan.