Congress approved final legislation (Health Care and Education Reconciliation Act of 2010) that prohibits Sallie Mae and other private entities from originating federal loans on or after July 1, 2010. The legislation was signed into law on March 30, 2010.

Federal loans remain available directly through the Department of Education. Ask your institution's financial aid office for details.

The Smart Option Student Loan can fill funding gaps after federal loans

Sallie Mae will continue to offer responsible private student loan products. Students who have reached their borrowing limit on federal loans and still need education funds may want to consider our Sallie Mae Smart Option Student Loan^®. With this loan, students can borrow up to the full cost of attendance¹, less other aid received, and graduate owing less money compared to a traditional 15-year private student loan with deferred payments.

Learn more about the Smart Option Student Loan.

Learn more about federal student loans.

¹ Borrow up to the cost of attendance (minimum $1,000) as certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower amount than what the school has certified.