Please feel free to contact our in-house Financial Aid Specialist, Terry Freeman: (303) 308-9300

At Cook Street, we understand that financial aid is a key component in the decision making process. Thus, we provide the following options:

Traditional Loans

1. Sallie Mae Career Training Loan: Many students finance their culinary training at Cook Street with a Sallie Mae Career Training Loan.  Sallie Mae approval occurs within 24 hours, and you can apply online at http://www.slmfinancial.com. 

• Longer term loans - You may be able to extend your loan term over 15 years or more which helps keep monthly payments low.
• Potential to obtain funds for the European Tour & living expenses – Applicants can apply for living expenses, full cost of tuition and the European Culinary Tour.
• No deposit required – The Sallie Mae Career Training Loan option does not require money down.
• Payment deferral – A Sallie Mae Career Training Loan allows you to defer payments while you are attending the Cook Street 180° Program.

Concerns:

• Higher interest rates - Sallie Mae does not offer competitive interest rates, which means your interest rate could be higher than other financing methods.
• Cosigner requirements** – It is highly recommended that students apply for the Sallie Mae loan with a cosigner. In the past year, 78% of Cook Street students who applied for Sallie Mae loans with a co-borrower were approved. 

2. UMB Bank Loan: Cook Street has an exclusive relationship with UMB Bank. Applications for this loan option can be obtained by contacting us at (303) 308-9300.

Benefits:

• Fixed interest rate – UMB loans are issued at a fixed 9% interest rate.
• Shorter loan term – Loan terms range from 3 to 5 years, so less interest is paid by the borrower.
• Interest only payments – UMB offers the student the option to pay interest only while attending the Cook Street 180° program.

Concerns:

• Higher loan payments - UMB loans have a shorter term which translates into higher monthly payments. An average payment for a five year loan is $322 to $400 depending on the amount of the deposit.
• Deposit requirements - UMB loans require a deposit ranging from $2,000 to $3,500.
• Smaller loan amounts - Students can apply only for the cost of the Cook Street 180° program.
• May require collateral - UMB loans may require the student to pledge some sort of collateral such as a home or vehicle.

Industry Scholarships

There are various industry scholarships and grants that are available to prospective culinary students; however, you must apply 6 to 12 month in advance in order to meet some of the deadlines.

International Association of Culinary Professionals

National Restaurant Association Educational Foundation

National Restaurant Association

Hospitality Sales and Marketing Association International (HSMAI)

American Institute of Wine & Food:

Colorado BPW Education Foundation

The Culinary Trust

James Beard Foundation

National Restaurant Association

Petersons

Women Chefs & Restaurants

Other Financing Options

1. G.I. Bill: Benefits are available for military and military dependents. Benefits may be used for the Cook Street 180° program and the ACF Apprenticeship. Contact the Cook Street Admissions Office for more details.

2. Workforce Investment Act: Cook Street students are eligible for funds allocated to assist dislocated workers. Visit http://www.coworkforce.com/ EMP for more information.

3. Arapahoe/Douglas Works! Workforce Center: Occupational Education Tuition Assistance is available for all terms. Call (303) 636-1250 or visit their web site for more information. http://www.adworks.org/

Some Things to Consider

1. Low Interest Rate Credit Card: This option is best for students who can afford to make three to five large payments to pay off the balance. In addition, frequent flyer miles can be used to purchase an airline ticket for the European Culinary Tour.

2. Home Equity Loan: This option is best if you can obtain a low interest home equity loan. Some advantages include lower interest rates, longer loan terms and interest that is tax deductible.