A more flexible, affordable K-12 education loan

Features and benefits.

The right loan, made easy.

The prepGATE Loan Program makes it simple to find the K-12 education loan that makes the most sense for you.

Why prepGATE Loans?

  • Competitive rates (LIBOR +   to LIBOR +  ) 1
  • Annual Percentage Rates (APRs) range from   to   1
  • Qualified borrowers can choose between two repayment terms (5 and 10 years)1, 4
  • Online loan application takes as little as 15 minutes to complete
  • Credit review2 typically happens instantly with online application submission
  • eSign option for credit agreements
  • No prepayment penalty
  • Origination fee as low as  *
  • Qualify for a 0.25% interest rate reduction for making automated payments from your checking or savings account3

Our Promise

Low-Rate, Low-Cost Loans

Our loans feature competitive rates, origination fees as low as  *, and no prepayment penalty.

Freedom Of Choice

Qualified borrowers can choose between different repayment terms.4

Easy Application

Apply online in as little as 15 minutes.

1The current interest rate in effect as of   ranges from   to  . APRs range from   to   as of  . The applicable interest rate for each calendar quarter shall be based on the average of the one-month London Interbank Offered Rate ("LIBOR") published in the "Money Rates" section of The Wall Street Journal (Eastern Edition) on the 1st day of each of the three previous calendar months, or the next business day thereafter, rounded to the nearest 1/100th percent (.01%). The variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your and your cosigner's (if any) credit history and will increase or decrease if the one-month LIBOR index changes. The current one-month LIBOR index was   on  . The low APR example assumes a $10,000 loan made in two disbursements with immediate repayment, a monthly principal and interest payment of   (there is a minimum monthly payment of $50), a 5-year repayment term (60 months), no Origination Fee, and a   interest rate (in effect as of  ). With a 5-year repayment term and no Origination Fees, current interest rates can range from   to   depending on your or your cosigner's credit history. The high APR example assumes a $10,000 loan made in two disbursements with immediate repayment, a monthly principal and interest payment of   (there is a minimum monthly payment of $50), a 10-year repayment term (120 months), an Origination Fee of   of the total loan amount, and a   interest rate (in effect as of  ). Interest rates are variable. Your variable interest rate and APR may be higher depending upon you and your cosigner's credit history and repayment term selected and will increase or decrease if the one-month LIBOR index changes.

2After application submission, initial credit review typically occurs within seconds. The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification and certification of your loan from your school before the final loan approval.

3To qualify, simply arrange with your loan servicer to automatically deduct monthly principal and interest payments from a bank account. The automatic payment benefit will discontinue and be lost for the remaining repayment period in the event any three payments are returned for insufficient funds over the life of the loan. This benefit may be terminated during forbearance periods.

4Repayment terms offered may vary based on the creditworthiness of the applicants.

*Origination fees range from   to  , depending on the repayment term chosen by the applicants.