Loan Information & Links

Tuition loan programs assist many families in making tuition payments more affordable by providing the funds upfront and spreading the payments over a longer period of time than tuition payment plans allow. If you are interested in any of the providers listed here, please contact them directly for current fees, rates, and other details. Most, if not all, are credit-based loans and may have different standards of creditworthiness. In some cases, as noted, the school must be a participant in the program. The companies listed below are NAIS (National Association of Independent School) corporate subscribers that offer K-12 tuition loan services:

1. ACT Education Loans
(877) 328-1565 ext. 3
www.acteducationloans.com/k_12_student_loans
ACT Education Loans, providing affordable funding options to families with children in private elementary through high schools, are guaranteed by the non-profit TERI Corp.

2. Citibank / The Student Loan Corporation
(800) 967-2400
www.studentloan.com
CitiAssist K-12 loan: May borrow up to $15,000 per year; 10-year repayment period; co-signer optional; no application, origination, or repayment fees; interest rate set to prime +1.5 percent; minimum annual income of $18,000; online application available.

3. Key Education Resources
(800) KEY-LEND (800-539-5363)
www.keybank.com
Achiever Loan: Reserve funds for up to four years of education with one application; apply online or by fax, phone, or mail; pre-qualify in as little as 24 hours; repaid over 20 years; no pre-payment penalty; interest varies quarterly set to LIBOR + 3.5 percent; funds paid to school on due dates; 2 percent origination fee added to loan amount; can borrow up to cost of education less financial aid received.

4. prepGATE Loan Program
(888) 353-GATE
www.prepgate.com
The prepGATE K-12 program is designed to help make private school tuition more affordable to families. With low interest rate loans, families can turn a $15,000 tuition into a $133 monthly payment. No prepayment penalties; interest rate set to LIBOR + 4 percent; no application fee; 2 percent origination fee; online and phone application options available; 15-year repayment period.

5. Sallie Mae
(888) 2-SALLIE
www.salliemae.com/k12loan
The Sallie Mae K-12 Family Education loan helps parents afford the private education of their choice for their children. Borrow from $1,000 up to the total cost of your child's education. You can also apply for 60% of the tuition amount (not to exceed $6,000) for educational related expenses. The interest rate can be as low as Prime + 1 and fees as low as 2%. You can take up to 20 years to repay the loan, which can keep your payments low and affordable. Apply online or by fax. Loans can be seamlessly integrated with the TuitionPay Monthly Payment Plan.

6. Your Tuition Solution
(800) 920-9777
www.yourtuitionsolution.com
Your Tuition Solution offers low fixed-rate tuition loans for private K-12 education with terms from 12-60 months and no application or origination fees. There is no cost to the school and payment is guaranteed. A $12,000 tuition loan can be as low as $255 per month.

7. Higher Education Services, Inc. (HES)
tel: 800-422-0010
http://www.highereducationservices.org/
The types of schools that currently utilize the services of HES include colleges and universities, trade and nursing schools, and elementary and secondary schools. The HES Installment Payment Plan provides students and families with the opportunity to pay tuition and other school-billed costs on a monthly basis thereby reducing the burden of traditional lump-sum payments each semester. HES also offers both federal and private loans to aid students and families in funding their educational expenses.