A better K-12 education loan

Competitive loan terms

Choose from a range of loan terms1

By letting you choose loan repayment terms, the prepGATE Loan Program makes it simple to find a loan that's right for your family.1

Rewarding responsible borrowing

  • 0.25% interest rate reduction for automatic withdrawal2

Competitive rates and fees

  • Rates from one-month LIBOR +   to LIBOR +   (with Annual Percentage Rates (APRs) from   to  )3,4
  • Origination fees from   to depending on the repayment term chosen by the applicant(s)1

Check out the information and documents you'll need to complete your application.


Compare your options in 2 easy steps

1 Pick a repayment period4
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How many years do you want to take to repay your loan? The longer you stretch out your repayment plan, the lower your monthly payments—but you'll also pay more interest over the life of your loan. Choose the repayment term that works for your needs.

2View Estimated Repayment Examples4,5

Want to see the impact your choices may have on your repayment? Make changes above to see the new estimates in the boxes below.

  Lowest Rate Highest Rate
Loan Amount6 $10,000 $10,000
Interest Rate Type3 Variable Variable
Current Interest Rate3 - -
APR7 - -
Origination Fee8 - -
Monthly Payment
(during repayment)9
- -
Repayment Period
(in months)10
- -
Estimated Loan Payment Total11 - -

Our Promise

Competitively Priced Loans

Our loans feature competitive rates, origination fees as low as  8, and no prepayment penalty.

Freedom Of Choice

Qualified borrowers can choose between different repayment terms.1

Easy Application

Apply online in as little as 15 minutes.

*The prepGATE Loan is not available to applicants who are permanent residents of WI.

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

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.

3The Current Interest Rates used in this estimate are in effect as of  . Interest rates in the prepGATE Loan program are variable. 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 the applicant's and cosigner's credit history and will increase or decrease if the one-month LIBOR index changes. The LIBOR index in effect for the current calendar quarter is  . The interest rate for each calendar quarter is calculated by adding the quarterly LIBOR index (as described above) to a margin. Margins currently range from   to   depending on your or your cosigner's credit history and the repayment option and term selected.

4For full repayment examples, use the "Compare Options" tool on this page.

5The examples calculated in this repayment tool use interest rates currently in effect and assume that the loan has two disbursements and both disbursements are made. Your actual loan details may vary from this estimate based on the final options you select and the interest rates in effect at the time your loan application is submitted. ALL EXAMPLES GIVEN IN THE COMPARE OPTION TOOL ARE ESTIMATES. The loan terms described are subject to change.

6These examples assume a loan amount requested of $10,000. 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.

7The Annual Percentage Rate (APR) is the measure of what a loan will cost. It takes into account the rate, fees, length of the loan and the timing of all payments. The APR will increase/decrease if the LIBOR index increases/decreases, as described in footnote 1.

8Origination fees range from   to  , depending on the repayment term chosen by the applicants. Repayment terms offered may vary based on the creditworthiness of the applicants.

9The Monthly Payment during Repayment is the combined principal and interest payment amount. The first year of principal and interest repayment has the same monthly payment each month. After the first year of principal and interest payments, monthly payment amounts are recalculated once each year and reset annually on the anniversary of your most recent repayment start date so as to pay the loan in full over the remaining repayment period. Each year, your monthly payment may go up or down, depending on whether the LIBOR index moved up or down during the 12 months before the change is made. Your monthly payment amount may also be recalculated (a) after any deferment or forbearance period, (b) after you ask the servicer to change the monthly payment due date or (c) if the minimum monthly payment is not enough to cover the interest accrued during that month. Minimum monthly payments of the loan's combined principal and interest will be at least $50.

10The Repayment Period is the number of months of full principal and interest payments to be made on the loans.

11The Estimated Total of Payments is the estimated amount you will have paid when you have made all payments.