Career training loan is a low interest student loan for technical training, distance learning, trade school, and other continuing education programs.

The main eligibility criterion is that you must be a holder of US citizenship (or you must be a permanent resident). An established credit history is also a criterion. If you don't have a good credit history, you still can avail this loan by applying through a borrower who is creditworthy.

It is supplement and complements other continuing education loans. Like other continuing education loans, a career-training loan is also credit based and students with good or excellent credit have better chances of getting approved at low interest rates.

The borrower (acting as the cosigner) can be your parents, other members of your family, your spouse (if you are married) etc. Even your friend can be your cosigner. Better the credit record of the cosigner, lower are the interest rates. It can be as low as Prime + 0 percent for cosigners with impressive credit records.