Eligibility

• You must attend an eligible community college or a four- or five-year college at least half time and be working toward your degree.
• You must meet current credit criteria.
• You must be making progress toward a degree.

Benefits

• High approval rates.
• Creditworthy cosigners may help you qualify for a lower interest rate. Creditworthy borrowers may request a cosigner release from the loan obligation after making 24 consecutive on-time payments of principal and interest. The account must remain current until the request for release is processed. Borrower credit qualification applies.
• You can borrow as much as you need to pay for the cost of your education as certified by your school.
• Easy online account management 24/7.
• Convenience of having all your student loans in one place and receiving one monthly bill when your Stafford loans are serviced by Sallie Mae.

Features

• Easy, secure online applications with fast credit decision and electronic signature.
• No income requirement for student borrowers so you can focus on your studies.
• Creditworthy cosigners may help students get a lower interest rate and save money.
• Available for U.S. students in study abroad programs.
• Available to international students with an eligible cosigner.
• No payments are required while you are in school.

Loan terms

Aggregate loan limits

Community colleges

• $50,000

Four- and five-year colleges

• $100,000 for undergraduates.*
• $150,000 for graduate students.*
• $220,000 for graduate health disciplines.*

*Includes all private student loan debt.

Interest rate

• Interest rates are variable and based on the Prime Rate.
• Manage your credit well and get a lower interest rate.
• Make interest payments during school so you have a lower amount to repay.

Fees

Usually 0%; a fee may be assessed depending on credit history.

Repayment

• Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
• Prepay your loan at any time without penalty.

Another way to help pay down your loan

With Upromise Loan Link^SM 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.