The K - 12 Education Loan can help you send your child to a private primary or secondary school. Borrow the money you need - up to 100% of the school-certified cost of your child's education.
- Competitive interest rates that reward good credit
- Fixed 3-year repayment term
- No application fee
- Easy online application - takes only about 15 minutes
- Fest credit result while you're online
- No repayment penalty
- Quarterly FICO Credit Scores available online for free
- You can now view your quarterly FICO Score by logging into your Sallie Mae account. You'll also receive access to the key factor(s) affecting your score and educational context to help you understand why viewing your FICO Score is important. The free benefit is available to both borrowers and cosigners.
The K - 12 Family Education Loan is available to parents, family members, or other creditworthy individuals who are US citizens or permanent residents to assist students attending a private elementary, middle, or high school. These include preparatory, Montessori, boarding, and other schools.
Terms and Conditions
1. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.
2. This repayment example is based on a typical loan to a borrower for a $5,250 loan, with two disbursements, a 3% disbursement fee, and a 14.75% variable APR. It works out to 4 payments of $91.08, 31 payments of $191.53 and one payment of $177.47 for a Total Loan Cost of $6,479.24. Variable rates may increase over the life of the loan.
3. A disbursement fee of up to 3% may apply.
4. Borrowers and cosigners may receive their FICO Score quarterly after the first disbursement of their loan FICO Scores are delivered only to borrowers and cosigners who have an available score, are based on data from TransUnion, and may be different from other credit scores. This benefit may change or end in the future. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.
5. All institutions 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. Applicants must be able to provide proof that the student is enrolled at an eligible school, either through school certification or by providing an enrollment agreement or tuition bill. You must be a U.S. citizen or permanent resident. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other credibility apply.
Information advertised valid as of March 25, 2019.
K - 12 Family Education Loans are made by Sallie Mae Bank.
We reserve the right to modify or discontinue products, services, and benefits at any time without notice. Check SallieMae.com for the most up-to-date product information.
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