Signature Student Loan for Community Colleges
The Signature Student Loan is a popular after-Stafford loan. If grants, scholarships, and federal student loans have not covered the total cost of your education, the Signature Student Loan for Community Colleges can help.
Eligibility
- You must attend a community college at least half time and be working toward your degree.
- You must meet credit criteria.
Benefits
- The Signature Student Loan has a high approval rate.
- 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 after making the first 24 consecutive, on-time monthly payments of principal and interest as initially scheduled.
Features
- Easy online applications with fast credit decision and electronic signature.
- No minimum income requirement.
- Six month grace period. 2
- International students are eligible with a cosigner (who must be a U.S. citizen or permanent resident) and applicable CIS documents.
- No payments are required while you are in school.2
- 24/7 online account management.
- Combined billing when you have multiple Sallie Mae-serviced student loans.
Loan terms
Loan limits
You can borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school, less other financial aid received.
Interest rate
- Manage your credit well to become eligible for a lower interest rate.
- The Signature Student Loan for Community Colleges has interest rates that reward good credit. Interest rates are variable and reset monthly.
Fees
Fees range from 0% to 3%.
Repayment
Several repayment plans are available, including standard, graduated, and extended.Another way to help pay down your loan
With Upromise Loan LinkSM 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.
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.
2 Deferring payment while in school and in the grace period will increase the overall loan costs. Unpaid interest that accrues while you are in school and in the grace period will be capitalized (added to your loan amount) at repayment.
Signature Student Loans are funded by Sallie Mae Bank® or a Sallie Mae lender partner. Access to Upromise is not limited to Sallie Mae loan customers. Terms and conditions apply.
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 INFRMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.
Subject to the above, borrower benefits are effective for Signature Student Loans for Community Colleges loans first disbursed on or after June 1, 2008 and serviced by Sallie Mae.
Sallie Mae, Sallie Mae Bank, and Signature Student Loans are registered service marks of Sallie Mae, Inc. Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc.