k-12 family education loan

put private schools within reach.
apply for a K-12 Family Education Loan^SM.

The K-12 Family Education Loan^SM is the answer parents have been looking for. It's a loan designed to help you pay for the high caliber education that private schools can offer. And it's good for private elementary, middle or high schools — including prep school, military school, Catholic school, Montessori school, boarding school and more.

It's easy to apply for a K-12 Family Education Loan, and you can expect a speedy response and excellent customer service.

As a Upromise member, you'll be happy to know that, with Upromise Loan Link^SM, you can use your Upromise savings to help pay down your eligible Sallie Mae loans. Now that's really smart.

eligibility

• You must be a U.S. citizen or permanent resident and have an established credit history.
• The institution your child is attending must be licensed or accredited by the department of education in the states in which they operate, if required by that state, or must be accredited by a recognized national education association.

features

• The K-12 Family Education Loan can be used to fund past tuition balances.
• You may borrow for both tuition and other education-related expenses such as books, computers, and fees.
• The K-12 Family Education Loan has interest rates and fees that reward good credit.
• You can manage your account online 24/7.
• Apply with a cosigner and increase your chances of approval.
• Easy application process ... have a copy of your tuition bill handy!
• Flexible repayment terms of up to 20 years are available.
• Borrow as little as $1,000 or up to the total cost of your child's education.
• You get life-of-loan servicing from Sallie Mae.
• You get the convenience of combined billing for all of your Sallie Mae-serviced loans.
• There is no prepayment penalty.

loan terms

Loan limit
Flexible aggregate loan limits depending upon your situation.

Interest rate
The K-12 Family Education Loan has interest rates that reward good credit and are as low as Prime + 0% for borrowers with excellent credit. Interest rates are variable and reset monthly.

Fees
Loan fees are 0%-5%.

Repayment
You can take up to 20 years to repay the loan.

legal

• K-12 Family Education Loan is a service mark of SLM Financial Corporation.
• K-12 Family Education Loans are made by state or federally chartered financial institutions and are sold after full disbursement to a Sallie Mae company.
• The school and its financial aid office act on their own behalf and do not represent you or Sallie Mae. You should always contact Sallie Mae directly if you have questions about the terms under which K-12 Family Education Loans are made.
• The K-12 Family Education Loan is a private, credit-based loan and is not federally sponsored or guaranteed.
• Repayment begins at least 30 days, but no more than 60 days, after disbursement.
• The APR will increase if the Prime Rate increases.
• Minimum monthly payment is $30.
• Up to 60% of the tuition amount may be financed for other expenses, not to exceed $6,000. Terms may vary by school.