New Financial Aid Available for Recording Workshop Students

Recording Workshop is pleased to announce a new option for financial aid. 57trust is a tuition loan program designed to help those who have found it tougher to get assistance through traditional sources.

What is different about 57trust is that it enables students to stand on their own two feet and get approved, no co-borrower is needed. And for those students who haven’t yet established much of a credit history in their life, 57trust is an option that can still get the OK.

This is possible because 57trust is a financial aid option that looks more towards the future rather than the past. Approval is largely based on students showing they have a plan to smartly use the skills and knowledge gained from an education at Recording Workshop.

Instead of submitting extensive financial records, applying for assistance through 57trust involves a written questionnaire that lets the student express their professional goals and demonstrate their focus.

Recording Workshop knows the success that is possible through the combination of our training bundled with the efforts of a well-focused graduate. This time-proven formula is the basis for the word “trust” in 57trust. We know what our grads can do.

And what about that number “57”? There is no better symbol of the successful Recording Workshop grad than the iconic Shure SM57. This mic has the professional reputation we want our grads to achieve: Rock-solid dependability and a magic sound.

There is a limit to the available 57trust funds on a per session basis. Applications can be submitted until two weeks before the start of classes, but an earlier submission is strongly suggested.

57trust Details

Borrow $1200 for 12 months (Tuition credit applied to 5-Week Core Program)

OR

Borrow $1800 for 18 months (Tuition credit applied to 5-Week Core Program + Maintenance and Advanced Programs)

If you get approved for the $1200 loan for the 5-week Core Program, you can decide later if you also want to take the Optional Maintenance and Advanced Programs and receive an additional $600 credit.

You must be a US Citizen and be at least 18 years old.

You must be a Registered Student for a session of the Recording Workshop 5-Week Core Program with a $300 tuition deposit on file. Applying for a 57trust loan is a separate process from registering to attend a session of the Recording Workshop 5-Week Core Program. Your 57trust Application can be sent in along with your 5-Week Core Program Registration Form, but the Registration Form must be accepted before your 57trust Application will be processed.

There is a $20 non-refundable Setup Fee that is charged only if your 57trust Application is approved and you accept the loan. This can be paid when you arrive for classes.

There is an effective 14% annual interest fee. The $1200 loan has 12 monthly payments of $107.70 resulting in a total interest cost of $92.40. The $1800 loan has 18 monthly payments of $111.38 resulting in a total interest cost of $204.84.

If your 57trust Application is approved, you will be contacted and asked to accept the loan offer. If you accept, you must then fill out the loan agreement online with Tuition Options. This must be completed and e-signed prior to the start of classes. Tuition Options is the company that will administer your loan. You will make your monthly payments to them and they will handle all issues dealing with receiving your payments. Tuition Options will present additional terms concerning late payments. These terms will be presented to you as you review the online loan agreement.

Your first payment is due 30 days after your last day of classes at Recording Workshop.