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Benefit from these features—with any loan used for undergraduate or graduate school expenses

Competitive interest rates

No origination fee or
prepayment penalty

Multiple repayment options

Undergraduate student loan


Smart Option Student Loan® for Undergraduate Students

For bachelor’s and associate’s degrees or a certificate at a degree-granting school

Apply for this loan

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Variable or fixed rate
Variable rates: 1.13% – 11.23% APR
Fixed rates: 3.50% – 12.60% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

4 months of free Chegg Study®: Study help at your fingertips

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Apply to release your cosigner from your loan after you graduate, make 12 on-time principal and interest payments, and meet certain credit requirements.

Loan term: 10 – 15 years of principal and interest payments.

Parent Loan


Parent Loan

For parents or other creditworthy individuals who want to take responsibility for financing their student’s undergraduate, graduate, or certificate education at a degree-granting school

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Variable or fixed rate
Variable rates: 3.37% – 12.99% APR
Fixed rates: 5.49% – 13.87% APR
Lowest rates shown include the auto debit discount

2 repayment options during school

  • Interest repayment
  • Principal and interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

4 months of free Chegg Study®
Get study and homework support – anytime, anywhere, for any subject

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 10 years of principal and interest payments.

Loans for graduate students


MBA Loan

Pay for your business school expenses as you pursue your Masters of Business Administration degree

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Variable or fixed rate
Variable rates: 2.12% – 11.64% APR
Fixed rates: 4.75% – 12.11% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 15 years of principal and interest payments.

Medical School Loan

Pay for your medical degree expenses in allopathic, general, osteopathic, podiatric, radiology, sports, and veterinary medicine

Apply for this loan

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Variable or fixed rate
Variable rates: 2.12% – 11.48% APR
Fixed rates: 4.75% – 11.97% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 20 years of principal and interest payments.

Dental School Loan

Pay for your dental degree expenses in general dentistry, endodontics, oral and maxillofacial surgery, orthodontics, pediatric dentistry, periodontics, and prosthodontics

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Variable or fixed rate
Variable rates: 2.12% – 11.48% APR
Fixed rates: 4.75% – 11.98% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 20 years of principal and interest payments.

Graduate School Loan for Health Professions

Pay for your health professions degree expenses in allied health, nursing, pharmacy, and other graduate-level health degrees

Apply for this loan

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Variable or fixed rate
Variable rates: 2.12% – 11.64% APR
Fixed rates: 4.75% – 12.11% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 15 years of principal and interest payments.

Law School Loan

Pay for your school and associated expenses as you study for your law degree

Apply for this loan

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Variable or fixed rate
Variable rates: 2.12% – 11.48% APR
Fixed rates: 4.75% – 11.98% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 15 years of principal and interest payments.

Graduate School Loan

Pay for your school and associated expenses as you pursue your master’s or doctoral degree

Apply for this loan

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Variable or fixed rate
Variable rates: 2.12% – 11.64% APR
Fixed rates: 4.75% – 12.11% APR
Lowest rates shown include the auto debit discount

3 repayment options during school and grace

  • Deferred repayment
  • $25 Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 15 years of principal and interest payments.

Bar Study Loan

For expenses associated with fees and living costs as you study for the bar exam

Apply for this loan

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Variable rates: 2.90% – 11.56% APR
Fixed rates: 5.75% – 12.68% APR
Lowest rates shown include the auto debit discount

Borrow from $1,000 up to $15,000

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Bar Study Loans are intended to cover expenses not included in your school’s cost of attendance.

This loan is for students who are enrolled at least half-time in their final year of study at a participating ABA-accredited law school, or have graduated from one within the last 12 months. Students should be sitting for the bar exam no later than 12 months after graduation. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Medical Residency and Relocation Loan

For expenses associated with taking board examinations, travel for interviews, and moving for your medical residency

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Variable rates: 2.90% – 8.58% APR
Fixed rates: 5.93% – 10.19% APR
Lowest rates shown include the auto debit discount

Borrow from $1,000 up to $30,000

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Residency and Relocation Loans are intended to cover expenses not included in your school’s cost of attendance.

This loan is for students who are pursuing or have received a M.D., D.O., D.P.M., D.V.M., or V.M.D. degree. Students must be enrolled at least half-time in their final year of study at a participating allopathic, osteopathic, podiatric, or veterinary medicine school, or have graduated from one within the past 12 months. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend or graduate from a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Dental Residency and Relocation Loan

For expenses associated with taking board examinations, travel for interviews, and moving for your dental residency

Apply for this loan

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Variable rates: 2.90% – 8.58% APR
Fixed rates: 5.93% – 10.19% APR
Lowest rates shown include the auto debit discount

Borrow from $1,000 up to $30,000

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Residency and Relocation Loans are intended to cover expenses not included in your school’s cost of attendance.

This loan is for students who are pursuing or have received a D.D.S., or D.M.D. degree. Students must be enrolled at least half-time in their final year of study at a participating dental school, or have graduated from one within the past 12 months. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend or graduate from a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Career Training Smart Option Student Loan

Pay for your professional training and trade certificate courses (culinary, technical, etc.) at a non-degree-granting school

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Variable rates: 4.12% – 11.52% APR
Fixed rates: 6.62% – 13.83% APR
Lowest rates shown include the auto debit discount

2 repayment options during school and grace

  • Interest repayment
  • $25 Fixed repayment

Borrow from $1,000 up to 100% of the school-certified expenses.

Rate discounts: Receive a 0.25 percentage point interest rate reduction after making your first 12 on-time principal and interest payments. Plus, get an additional 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.

Loan term: 10 – 15 years of principal and interest payments.

Allstate Disclosure: No quote or purchase of insurance necessary. Need not be an Allstate policyholder to take advantage of this offer. Products and services are offered by third parties to benefit their customers. Allstate does not endorse or assume any responsibility for their products, services, or websites or make any representations or warranties about the content, accuracy, completeness, timeliness, operation, or quality of such products, services, or websites. Offer is subject to terms, conditions, and availability. Offer not available in every state - offer void where restricted or prohibited by law.

Allstate is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Smart Option Student Loan for undergraduate students and Sallie Mae loans for graduate school expenses: These loans are for students at participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Parent Loan: This loan must be used to pay for eligible student expenses at participating degree-granting schools. The student cannot be a borrower or cosigner and is not responsible for repaying the loan. The borrower, cosigner, and student must be U.S. citizens or U.S. permanent residents. If the school issues a refund directly to the student, the borrower and cosigner (if applicable) are still responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Career Training Loan: This loan is for students at participating non-degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. Smart Option Student Loan APRs assume a borrower who attends school for 4 years and has no prior Sallie Mae loans. Medical School Loan and Dental School Loan APRs assume 4 years in school. Law School Loan APRs assume 3 years in school. MBA Loan, Graduate School Loan for Health Professions, and Graduate School Loan APRs assume 2 years in school.

Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.

This promotional benefit is provided at no cost to borrowers with undergraduate or parent loans with a first disbursement between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.

A 0.25 percentage point interest rate reduction is applied to the loan if the first 12 principal and interest payments are paid on time or if an amount equal to the first 12 principal and interest payments is paid ahead. Although the benefit can be earned by paying ahead, it will not be activated until after the 12th principal and interest payment would have been due. Any period in which the loan is in a forbearance, deferment, or Graduated Repayment Period will not count toward satisfying the on-time principal and interest payment requirement.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months. Requirements are subject to change.

  Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common variable rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans, it works out to a 6.88% APR, 51 payments of $25.00, 119 payments of $136.17 and one payment of $112.58, for a Total Loan Cost of $17,591.81. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 7.06% APR, 27 payments of $25.00, 179 payments of $98.17 and one payment of $66.85 for a total loan cost of $18,314.28. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.

APRs for the Principal and Interest Repayment Option may be higher than APRs for the Interest Repayment Option. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. APRs assume a $10,000 loan with a 4-year in-school period.

Example of a typical transaction for a $10,000 Parent Loan with the most common variable rate, the Principal and Interest Repayment Option, 48-month in-school period, and two disbursements. It works out to 12.99% variable APR, 4 payments of $75.05, 115 payments of $151.38 and one payment of $80.65, for a total loan cost of $17,789.55. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 MBA Loan with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 Medical School Loan with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 81-month in-school and separation period, it works out to 10.52% variable APR, 81 payments of $25.00, 238 payments of $170.75 and one payment of $100.32, for a total loan cost of $42,763.82. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 Dental School Loan with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 57-month in-school and separation period, it works out to 10.98% variable APR, 57 payments of $25.00, 238 payments of $151.78 and one payment of $90.01, for a total loan cost of $37,638.65. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 Graduate School Loan for Health Professions with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 Law School Loan with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 42-month in-school and separation period, it works out to 11.21% variable APR, 42 payments of $25.00, 179 payments of $152.87 and one payment of $60.14, for a total loan cost of $28,473.87. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Interest is charged starting when the funds are sent to you. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $15,000 loan disbursed at the time of the student's graduation from school.

Interest is charged starting when the funds are sent to you. For those who graduate, the grace period is 36 months. For those who withdrawal or whose attendance falls below half-time status, the grace period is 9 months. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $20,000 loan disbursed at the time of student's graduation from school.

Interest is charged starting when funds are sent to the school. With the Fixed Repayment Option, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments are required during the grace/separation period based on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 loan to a borrower whose planned term for enrollment is approximately one academic year with no other Sallie Mae loans.

Examples of typical transactions for a $10,000 Career Training Smart Option Student Loan with the most common variable rate, fixed repayment option, 15-month in-school and separation period, and two disbursements: For a borrower with no prior loans, it works out to a 9.31% APR, 15 payments of $25.00, 119 payments of $137.44 and one payment of $102.03, for a total loan cost of $16,832.39. For a borrower with $20,000 in prior loans, it works out to a 9.33% APR, 15 payments of $25.00, 179 payments of $110.70 and one payment of $53.94, for a total loan cost of $20,244.24. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Information advertised valid as of 9/27/2021.

Sallie Mae loans are made by Sallie Mae Bank.