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Values, Vision, Voice

Sallie Mae K–12 Family Education Loan

In March 2019, Preston High School became one of a select few Sallie Mae partner schools.  Sallie Mae is often associated with financing a college education, but you can now finance from $1,000 and up to 100% of your Preston tuition at low rates, with a repayment period of 36 months.  Since then, Sallie Mae has made over $100,000 in K-12 loans of varying amounts to our families, who on the whole report great satisfaction with the entire process.

You can apply at any time during the year, even as early as when you first enroll, once you’ve decided on attending Preston.  If you choose to pay your tuition in full by March 31, 2021, you will be entitled to an early payment discount of 5% on net tuition¹.

If you are worried about your credit, Sallie Mae allows you to co-apply with a trusted family member or friend with good credit.  Applicants with co-signers are 4x more likely to be approved for a loan.  Applying with a co-signer may also help you get a better rate.

There is no application fee or pre-payment penalty.  You can save interest expense by paying off the loan partially or fully with, for example, your 2020 income tax refund.  Timely and early repayments can actually help improve your long-term credit score.

Most decisions are made within 15 minutes.

If at first you do not succeed, apply for a lower amount and consider a willing co-signer with strong credit.

To learn more about and apply for a Sallie Mae K-12 Family Education Loan, please visit here.


¹Net tuition is the tuition balance after all forms of tuition assistance, such as scholarships, grants, and financial aid, have been applied.
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