Tuition Loan Programs
Tuition loan programs assist many families in making tuition payments more affordable by providing the funds upfront and spreading the payments over a longer period of time than tuition payment plans allow. If you are interested in any of the providers listed here, please contact them directly for current fees, rates, and other details. Most, if not all, are credit-based loans and may have different standards of creditworthiness. In some cases, as noted, the school must be a participant in the program.
One AMS Place
P.O. Box 812
Swansea, MA 02777
(800) 637-3060
Fax: (508) 235-3816
http://www.tuitionpay.com
The TuitionPay Diploma Loan (K-12) helps parents afford the private education of their choice for their children. Borrow from $1,500 to $30,000 to cover the current tuition bill or to pay the balance from a previous year. Low, competitive variable interest rate based on LIBOR plus an additional percentage. Loans can be seamlessly integrated with TuitionPay Monthly Plan; free financial counseling available.
Citibank / The Student Loan Corporation
750 Washington Boulevard
Stamford, CT 06901-3722
(800) 967-2400
http://www.studentloan.com
CitiAssist K-12 loan: May borrow up to $15,000 per year; 10-year repayment period; co-signer optional; no application, origination, or repayment fees; interest rate set to prime +1.5 percent; minimum annual income of $18,000; online application available.
Key Education Resources
745 Atlantic Avenue
Suite 300
Boston, MA 02111-2735
(800) KEY-LEND (800-539-5363)
Fax: (617) 451-8990
http://www.keybank.com
Achiever Loan: Reserve funds for up to four years of education with one application; apply online or by fax, phone, or mail; pre-qualify in as little as 24 hours; repaid over 20 years; no pre-payment penalty; interest varies quarterly set to LIBOR + 3.5 percent; funds paid to school on due dates; 2 percent origination fee added to loan amount; can borrow up to cost of education less financial aid received.
prepGATE Loan Program
30 Little Harbor
Marblehead, MA 01945-2600
(888) 353-GATE
http://www.prepgate.com
The prepGATE K-12 program is designed to help make private school tuition more affordable to families. With low interest rate loans, families can turn a $15,000 tuition into a $133 monthly payment. No prepayment penalties; interest rate set to LIBOR + 4 percent; no application fee; 2 percent origination fee; online and phone application options available; 15-year repayment period.
Your Tuition Solution
150 Speen Street
Framingham, MA 01701
(800) 920-9777
Fax: (508) 875-7708
http://www.yourtuitionsolution.com
Your Tuition Solution offers low fixed-rate tuition loans for private K-12 education with terms from 12-60 months and no application or origination fees. There is no cost to the school and payment is guaranteed. A $12,000 tuition loan can be as low as $255 per month.
If the above products do not meet your needs, other companies provide loan services/products as well. They include:
- Higher Education Services, Inc. (HES)
- SLM Financial Corporation
- The Education Resources Institute (TERI)
- Tuition Management Systems
