SIOUX FALLS, S.D.--(BUSINESS WIRE)--Please replace the release dated October 4, 2016 with the following corrected version due to multiple revisions.
The corrected release reads:
RELIAMAX LAUNCHES PHARMD PRIVATE STUDENT LOAN PROGRAM TO CLOSE PHARMACEUTICAL SCHOOL FUNDING GAP
ReliaMax®, a leading private student loan platform-as-a service solution provider, announced today the launch of Southeast Bank’s PharmD private student loan program for participating universities offering a Doctor of Pharmacy (PharmD) degree.
As an increasing number of universities offer PharmD programs to meet the need for 90,000 pharmacists, physicians and medical professionals by 20251 to treat an aging population increasingly suffering from chronic pain, there is an equally increasing number of students needing to secure an effective education financing solution.
Participating universities can help their students apply for private student loans by connecting with ReliaMax’s loan platform. The borrower can get 100% of all school certified educational costs up to the maximum loan program limits with favorable terms and conditions. Payments may be deferred during the in-school period and up to 48 months during Internship/Residency with a grace period after leaving school. PharmD loans are originated and serviced by ReliaMax.
“Universities that have recently began to offer PharmD degrees often have to wait a minimum of four years before students are eligible for certain types of federal aid, while the rising cost of education outstrips the aid these schools can offer,” said Michael VanErdewyk, CEO and Chairman of ReliaMax. “Southeast Bank partnered with ReliaMax to launch this program to enable universities to offer their PharmD and potentially similar health professions students a way to meet their funding needs affordably and immediately, where one previously did not exist.”
This program demonstrates the breadth and flexibility of The ReliaMax Solution to meet the unique needs of lenders and schools. Comprised of five applications – Borrower Acquisition, Origination, Servicing, Insurance and Capital Markets – The ReliaMax Solution is a state-of-the-art turnkey cloud based solution that lenders and schools can tailor to meet their unique needs.
Founded in 2006, ReliaMax® is the industry’s top insurer and Private Student Loan Platform-as-a Service solutions provider. Hosting a proprietary database of over $14.5 billion in private student loans and one million borrowers, ReliaMax offers banks, credit unions, alternative lenders and investors up to 100% loan loss protection with stable returns and has helped over 450 lenders profitably deliver private student loans to their borrower clients. ReliaMax has insured over $2.6 billion in private student loans since 2009, helping over 100,000 borrowers finance their education and achieve their dreams. Learn more at ReliaMax.com.
ReliaMax® is a registered trademark of ReliaMax and/or its affiliates. Other names may be trademarks of their respective owners.
1 2015, the American Association of Medical Colleges