Associates First Capital Corp. and Novell Education are teaming up to offer on-line loans to the information technology company's students.
The Novell Career Builder loan program will allow students to apply for up to $15,000 on-line. The loans will be funded through Associates Capital Bank, Salt Lake City, and can be approved and dispersed to training institutions in a single day.
The self-paid information technology training market is expected to grow from $1.5 billion to $4 billion within the next five years, according to a statement from the finance company.
Financing from the private sector "will play a major role in driving this growth, and developing a much-needed IT industry," said Associates Capital Bank president Robert P. Majka.