MBA LOANS is an affordable package of federal and private loans for students pursuing a graduate business degree.

Federal Stafford loans

Federal Stafford loans generally carry the lowest interest rates available. Eligible students can apply for up to $20,500 in Stafford loans through MBA Loans.

If you have already exhausted your MBA LOANS Stafford Loan eligibility and need additional resources, apply for MBA Graduate PLUS Loan. Use Nellie Mae lender code 829076. Download the Stafford and Graduate PLUS Master Promissory Notes and instructions from the right side of this page.

To apply, please work with the financial aid office at your school to make sure you have completed the appropriate eligibility forms for federal aid.

As an MBA LOANS Stafford and Graduate PLUS loan borrower, you'll get:

• Customer service from a single servicing agency.
• The advantage of combined billing for your loans obtained through the MBA LOANS program and any other Sallie Mae-owned and -serviced loans.
• Six months grace period on your MBA LOANS Stafford Loan after you graduate or drop below half-time enrollment status.
• Automatic in-school deferment on your Graduate PLUS Loan based on school certification of enrollment.
• Sallie Mae's wide array of repayment options.
• No prepayment penalty.

Bypassing the federal financial aid process is appropriate for international students, students who are enrolled less than half time, and students attending specialized MBA or executive MBA programs.

MBA LOANS Private Loan

(for loans disbursed June 1, 2007–May 31, 2008)

If you've reached your loan limit for the Stafford loan, or if you aren't eligible for federal funding, apply for our MBA LOANS Private Loan.

MBA LOANS Private Loan benefits:

• 0% disbursement fee and repayment fees.*
• Affordable interest rates.
• 0.25 percentage point interest rate reduction for auto debit.**
• 0. 50 percentage point interest rate reduction after making the first 48 consecutive payments by the due dates as initially scheduled.**
• Online credit pre-approval.
• International students are eligible with a U.S. citizen or non-citizen permanent resident cosigner.
• Applicants who do not pass our credit review may be eligible for a loan if they secure a creditworthy cosigner that is a U.S. citizen or non-citizen permanent resident.
• Extended repayment and terms up to 30 years depending on loan balance.
• Cosigner release after the first 24 payments of principal and interest are made on time (not applicable for foreign borrowers).

Eligible students

• You can apply for the MBA LOANS Private Loan if you're currently enrolled — even on a less-than-half-time basis — in an approved graduate business program (including business administration, marketing, accounting, executive MBA, etc.).
• An applicant must be a U.S. citizen, a non-citizen permanent resident with proper evidence of eligibility, or an international student borrowing with a creditworthy U.S. citizen or non-citizen permanent resident cosigner.

Loan terms

Loan limits

• Annual minimum: $500
• Annual maximum: Cost of education, as determined by your school, minus other aid received
• Lifetime: Cost of education less other financial aid with a cosigner; $175,000 without a cosigner (includes all student loan debt).

Your school must certify the loan amount requested.

Rates and fees

MBA LOANS Private Loan interest rates are tiered, based on credit, so the better your credit, the lower your interest rate. If you and your cosigner are credit approved, your rates and fees will be based on the best credit rating of the two applicants.

Repayment terms

Repayment on the MBA LOANS Private Loan for full-time and half-time student borrowers begins six months after graduation. If the borrower drops below half-time status, repayment begins six months after the date the borrower drops below half-time status for the MBA LOANS Private Loan.

If you have additional questions regarding the MBA LOANS program, please call us at (888) 440-4MBA.

*For loans disbursed June 1, 2007–May 31, 2008.

**Terms and conditions apply. The automatic debit benefit is available during active periods of repayment for as long as the borrower's monthly payment is successfully deducted from the borrower's bank account. To qualify for the 0.50 percentage point interest rate reduction, borrowers must sign up on Manage Your Loans^SM, before repayment, to receive account information by email. The interest rate reduction continues during active repayment for as long as the borrower continues to pay as initially scheduled. MBA LOANS Private Loan borrower benefits are available on loans first disbursed June 1, 2007–May 31, 2008 and serviced by Sallie Mae.