Several lenders make loans available to parents to help them finance the cost of a private school education (K-12) for their children. All require US citizenship.

The education loans for private elementary and secondary schools (K-12) include:

• Academic Management Services. Through its parent company, Sallie Mae, AMS offers the K-12 Family Education Loan to help parents pay all or part of their private K-12 tuition bill. The K-12 Family Education Loan offers high loan limits, from $1,000 up to the full cost of tuition and expenses. The loan has high approval rates, with about 75% of applicants getting approved. It is available to parents or other credit-worthy family members. Interest rates start at Prime + 1% (with a 2% fee) for borrowers with excellent credit. Borrowers have 15 years to repay, and there are no prepayment penalties. For more information, call 1-800-2SALLIE (1-800-272-5543), or visit www.slmeducationloans.com or www.tuitionpay.com.

• Key Education Resources. Key Education Resources offers the AchieverLoan for financing independent and private grammar and secondary school costs. Families may reserve the funds for one to four years of education with one application and repay the loan over ten years. There is no prepayment penalty. Applications may be submitted via the Key Education Resources web page. For more information, call 1-800-KEY-LEND or send email to Key Education Resources at EducationRes@KeyBank.com.

• Wachovia Education Finance. Wachovia Education Finance offers the TERI Elementary and Secondary Loans in cooperation with The Education Resources Institute (TERI). These loans allow parents or other concerned parties to borrow to pay the costs of attending a private elementary or high school. The loan has a variable rate of prime + 0% and a 6% origination fee. Repayment begins within 45 days after the school receives the loan funds. The repayment term is up to 10 years. A pre-approval form is available on the web site. For more information, call 1-800-255-8374, option 2, or send email to customer_assistance@wachovia.com.

• Your Tuition Solution. Your Tuition Solution offers fixed rate payment plans to cover the cost of tuition and related expenses at most private K-12 schools. The interest rates are fixed, and depend on the loan term, tuition amount and credit scoring. The interest rate ranges from 7.99% to 9.99% APR for those with good credit and are 3% higher for those with credit problems. (Rates as of June 2004.) There are no origination or application fees and there is no prepayment penalty. Payments can be spread over 12 to 60 months. Your Tuition Solution is a program of Premier Payment Solutions, Inc. For more information, contact: Your Tuition Solution
  150 Speen Street
  Framingham, MA 01701
  Phone: 1-800-920-9777
  Email: info@yourtuitionsolution.com
  URL: www.yourtuitionsolution.com