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Financing Program
Sprint introduces a financing program that can offer
your district affordable and convenient options in obtaining
technology solutions. This program is of particular
value to districts that have applied for E-Rate and
are at risk for denied funding.
If your district has made plans for telecommunications
equipment purchases funded by E-Rate and falls below
the 80% funding level, you are at risk for denied funding
due to a recent Schools and Libraries Division (SLD)
announcement. Sprint, in association with GE Capital,
is offering a financing program designed to assist school
districts facing E-Rate funding shortfalls.
The financing program is a lease agreement of five-
or seven-year terms, which offers your district many
flexible options. The financing program will allow you
to leverage your district's current funds and proceed
with your current technology projects now while positioning
your school district for maximum E-Rate benefits next
year, should lower discount levels be funded.
Two possible options that may help you secure future
E-Rate funding include:
- Option 1: Your school district can submit a request
annually to the SLD for funds to cover the sum of
your annual payments.
- Option 2: Your school district can submit a request
to the SLD this fall for funding to cover the remaining
balance of an existing lease without significant penalty.
Whether you have been denied E-Rate funding or not,
Sprint can provide you with alternative financing options
that will allow you to obtain the technology solutions
you need now with no up-front capital expenses and affordable
monthly payments. In addition, you gain the following
program benefits:
- Tax-exempt Financing Rates: Through this special
arrangement with GE Capital, we are able to offer
very competitive tax-exempt interest rates. There
is no creation of debt with our annual appropriation
lease structure.
- Escrow Funding Option: Funds to cover the cost of
your system are placed into an interest-bearing escrow
account, as allowed by law. Payments to Sprint are
made from this account. All interest earnings are
retained by your school district.
- Payment Flexibility: Your school district's monthly
payments will begin six months after escrow funding.
Terms of up to seven years are available.
Sprint Offers Additional Service Options that Qualify
for E-Rate Funding
If your district is located within Sprint's franchise
territory – Sprint can assist you in obtaining
E-Rate funding on telecommunications service offerings
such as Sprint Network ConsolidationSM
and Sprint CentrexSM.
Sprint Network Consolidation – This solution
provides a new approach to school networking as it integrates
voice, video, and data into a single, cost-efficient,
multi-media network. This offering is being quickly
deployed throughout Sprint local telecommunications
territories.
Sprint Centrex – Centrex (central office exchange)
is a switching service that will direct your calls through
software and hardware located in the telecommunications
provider's central office. This eliminates the need
for you to install costly telephone switching equipment
at your school premises. Sprint Centrex will grow with
your district providing an affordable, reliable, flexible,
and up-to-date telecommunications solution.
Sprint Network Consolidation and Sprint Centrex often
qualify for E-Rate funding while providing significant
cost savings to your schools. Because Sprint Network Consolidation and Centrex
are telecommunications services, they receive top-funding
priority at all discount levels. The inclusion of the
required on-site equipment as part of either the Sprint Network Consolidation
or Centrex telecommunications package allows your school
district to avoid up-front capital expenses.
Multi-year contracts for either Sprint Network Consolidation
or Sprint Centrex provide you the benefit of not being
required to file the FCC Form 470 every year. It may
also be easier to get funding since the fee is a predictable
monthly expense rather than a lump sum capital investment.
Even if you are outside the local Sprint telecommunications
territory, Sprint offers Wide Area Network (WAN) solutions
that qualify as E-Rate-eligible telecommunications services.
For more information on E-Rate, visit the SLD Website at www.sl.universalservice.org
or the Sprint
E-Rate Website.
For more information on Sprint financing programs,
visit the Financing
Website.
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copy of the Sprint financing programs for education.
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