You can use our K-12 Family Education Loan to pay for private elementary, middle, or high school, including prep school, military school, Catholic school, Montessori school, boarding school, and more.

Eligibility

• You must be a U.S. citizen or permanent resident and have an established credit history.
• The institution your child is attending 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.

Features

• You may borrow for both tuition and other education-related expenses such as books, computers, and fees.
• The K-12 Family Education Loan has interest rates that reward good credit.
• You can manage your account online 24/7.
• If you do not have an established credit history, applying with a creditworthy cosigner may help you qualify for the loan. Even if you have an established credit history, you may be eligible for a lower interest rate if you apply with a creditworthy cosigner.
• Creditworthy borrowers may request a cosigner release from the loan obligation after making the first 24 consecutive payments of principal and interest on time.¹
• Easy application process … have a copy of your tuition bill handy!
• Borrow as little as $1,000 or up to the total cost of your child's education.
• You get the convenience of combined billing for all of your Sallie Mae-serviced student loans.
• There is no prepayment penalty.

Loan terms

Loan limit

Maximum loan amount and loan availability varies by school. 

Interest rate

• Manage your credit well and you may qualify for a lower interest rate.
• The K-12 Family Education Loan has interest rates that reward good credit. Interest rates are variable and reset monthly.

Repayment

You can take up to 20 years to repay the loan.

Another way to help pay down your loan

With Upromise Loan Link^SM student and parent borrowers who join Upromise^® can link their Sallie Mae loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae-serviced student loans. Visit www.salliemae.com/upromise to learn more and enroll today.

Legal

K-12 Family Education Loans are funded by Sallie Mae Bank^® or a Sallie Mae lender partner.

K-12 Family Education Loans are made by state or federally chartered financial institutions and are sold after full disbursement to a Sallie Mae company.

1 The account must remain current until the request for release is processed. Borrower credit qualification applies. Borrower must be a U.S. citizen or permanent resident at the time the cosigner release request is processed.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS.

Subject to the above, K-12 Family Education Loan information applies to loan applications received on or after June 22, 2008 and is subject to change.

Upromise is not limited to Sallie Mae loan customers.

Sallie Mae and Sallie Mae Bank are registered service marks of Sallie Mae, Inc. SLM Financial Corporation is a registered service mark and K-12 Family Education Loan is a service mark of SLM Financial Corporation. Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc.