About the prepGATE Loan Program.

Eligibility

The student must be enrolled at an eligible school.
The primary applicant must be at least the age of majority in their state of residence at the time of the loan application. (21 years old in Mississippi and Puerto Rico, 19 in Alabama and Nebraska (for wards of the state only), and 18 in the rest of the U.S.)
The borrower or cosigner must have proof of current positive income. The applicant meeting the positive-income requirement must submit verification of current income.
Borrowers applying without a cosigner must be U.S. citizens or permanent residents of the U.S.

Loan limits

For all loan types, the minimum loan amount is $2,000.
The maximum annual loan amount is the cost of attendance less other financial aid as certified by the school or $30,000, whichever is less.
The maximum aggregate borrowing limit is $150,000, inclusive of all student loan debt and any unsecured deferred consumer debt.

Loan type

Variable interest rate¹
Origination fees as low as ^*

Responsible borrower benefits

Interest rate reduction of 0.25% for making monthly payments via automatic withdrawal²

Learn what to expect after you take out a prepGATE Loan.

Our Promise

Low-Rate, Low-Cost Loans

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

Freedom Of Choice

Qualified borrowers can choose between different repayment terms.

Easy Application

Apply online in as little as 15 minutes. Invite a cosigner with the click of a button.

"Casting A Wider Net"

Our custom credit scorecard allows us to make loans to borrowers who might not otherwise qualify for them.^††

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.

²To 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.

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

^††Minimum credit score required for the primary applicant.