As you may already be aware, the prepGate loan is no longer available to help families afford the costs of private education. Please see the letter from prepGATE's vice president, Kristen Powers. We are sure that you are wondering what this means to you: First and foremost, don't panic! Any PrepGate loan that has been applied for through 04/18 will still fund to your program. We have been reassured by PrepGATE that all future disbursements will be honored.
While we won't be offering PrepGate loans, CCEL still offers multiple unsecured loan options, both educational and non-educational. If your school is academically accredited and you are not currently approved with Key Achiever and Sallie Mae, we recommend beginning the application process (see attached applications and contact information). Whether or not you have an academic component to your program, our non-educational loans are available to any program and their families. These loans do not require that programs go through an application process. When families call CCEL, our loan specialists will continue to pre-qualify them for the loan that best meets their needs.
The bottom line is there are loan options available to your program. We will continue to offer families the most diverse unsecured loan options available. If you would like more information about what transpired with prepGATE, please refer to the links below.
We will continue to update you as we all rise to meet the needs of this industry.
Sincerely,
Shauna Clark
President
Clark Custom Educational Loans Inc.
Clark Behavioral Health Financing