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Since 2015, Sallie Mae has helped more than 415,000 students get a lower interest rate than a parent or grad PLUS loan.

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Loan Choices for Students

Undergraduate student loans

For bachelor's and associate degrees, or certificates from degree-granting schools.

See my ratefootnote 1

Graduate student loans

For graduate degrees and other master’s and doctorate programs.

See my ratefootnote 1

Career training student loans

For professional training or certificate courses like culinary, aviation, technical, and more.

See my ratefootnote 1

Compare our private student loans to Federal PLUS loans

Sallie Mae could help you score a lower interest rate than a parent or grad PLUS loan. There are no origination fees, and you can choose the type of loan, interest rate, and repayment option that works best for you. 
 

Sallie Mae private student loans

Federal Direct PLUS Loansfootnote 2

No origination fees

Less than half-time enrollment eligibility

Fixed and variable interest rate options

Cover up to 100% of the cost of attendance minus financial aidfootnote 3

Rate reduction when you enroll in auto debitfootnote 4

Credit check required
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Sallie Mae has been really easy to work with, and the monthly payment system is low-stress and manageable.

Sophia P.

Massachusetts

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1. Tell us some basics

 

2. Choose your loan options

 

3. Sign and accept

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You’ll need a few things to apply like address, Social Security number (if you have one), and details about your school.

FAQs

Have other questions? We’re here to help.
1-877-279-7172

What is my school's cost of attendance?

You can estimate how much a whole year of school will cost using your school’s cost of attendance (COA), usually found on your financial aid offer or the school’s website.

 

The cost of attendance usually includes expenses like tuition, fees, books, meals, and transportation. Depending on the type of loan, your school may certify your loan amount. This means that your school confirms the loan amount to make sure you don’t borrow more than the cost of attendance.

Do I need a cosigner?

Most students don’t have the credit history to take out a loan by themselves. That’s where a cosigner can help. A cosigner is an adult with good credit who shares responsibility for the loan. By having a cosigner on the application, students’ chances of being approved may increase.

Why should I borrow for the entire school year?

You can apply just once a year with a single credit check and funds are sent (disbursed) for each term directly to your school. You can cancel any future disbursements as needed with no penalty. No interest is charged until money is sent to your school, so you can relax, knowing you've got the funds when you need them.

What’s the difference between federal and private student loans?

Federal loans are provided by the government, while you take out a private loan from a bank like Sallie Mae, or a credit union. There are also differences in interest rates, repayment options, and other features.footnote 5

 

When you apply for a private loan, the lender must check your credit, including your borrowing/repayment history, to decide if you qualify for a loan. Many federal loans don’t require a credit check.

How long does it take to get an undergraduate student loan?

It takes about 10 minutes to apply and get a credit decision. After your application is approved, you choose your undergraduate loan rate type and repayment options, accept your loan disclosure, and the loan is certified by your school. We send (disburse) the funds directly to the school. The process typically takes 10 business days from application to disbursement.

Can I qualify if attending school online, or less than half-time?

Yes! Whether you study online or on campus, you can borrow to cover your school costs, even if you're not a full- or half-time student. Our loan is a good choice if you find yourself in any of these situations: 

  • Attending school full-time, half-time, or less than half-time
  • Online or on-campus classes
  • Winter or summer classes
  • Study abroad
  • Professional certification courses
  • A U.S. citizen or permanent resident enrolled in a participating school in a foreign country
  • Students who are not U.S. citizens or permanent residents, including DACA students, residing in and attending school in the U.S. (with a cosigner who is a U.S. citizen or U.S. permanent resident)

When do I start paying back my undergraduate student loan?

With our undergraduate student loan, you have three repayment options. While in school, you can 1) choose to make monthly interest payments or 2) fixed $25 payments each monthfootnote 6—or 3) you can choose to defer (wait to make) payments until after school.footnote 7 The repayment option you choose applies during school and for six months after you leave school (your grace period). After that, you’ll make principal and interest payments.

How do you decide if I qualify for a student loan?

When you apply, we look at your history of borrowing money and paying it back on time. Lenders want to know how responsible you are with credit before approving your student loan application.

 

Many high school students haven’t had time to build up their own credit. That's why it can help to apply with a cosigner, a creditworthy adult who shares the responsibility of the student loan.

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

footnote Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Graduate School Loan and Graduate School Loan for Health Professions are for graduate students at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote MBA Loans are for graduate students in an M.B.A. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Medical School Loans are for graduate students in an M.D., D.O., D.V.M., V.M.D., or D.P.M. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Graduate Certificate/Continuing Education coursework is not eligible. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Dental School Loans are for graduate students in a D.D.S. or D.M.D. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Graduate Certificate/Continuing Education coursework is not eligible. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Law School Loans are for graduate students in a J.D. or L.L.M. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Graduate Certificate/Continuing Education coursework is not eligible. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Bar Study Loans are 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. This loan is subject to credit approval, identity verification, signed loan documents, and enrollment verification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., graduate from, or attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote Residency and Relocation Loans are for students who are pursuing or have received a M.D., D.O., D.D.S., D.M.D., 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, dental, or veterinary medicine school or have graduated from one within the past 12 months. This loan is subject to credit approval, identity verification, and signed loan documents. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., graduate from, or attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote 1. Loan application must be submitted to see available rates.

footnote 2. Federal loan rate and fee information is provided by Federal Student Aid, an Office of the U.S. Department of Education.

footnote 3. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. 

footnote 4. 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.  

footnote 5. Sallie Mae loans may be offered at a lower rate than PLUS depending on the creditworthiness of the applicant(s). Explore federal loans and compare to make sure you understand the terms and features. Private student loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.

footnote 6.  Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.

footnote 7. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent.  Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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.

footnote SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. 

footnote Information advertised valid as of 10/27/2025.

footnote Sallie Mae loans are made by Sallie Mae Bank. 

footnote Sallie Mae compensates partners for their referral of student loan customers.

 We share links to outside websites to help you find useful and relevant information. Once you leave salliemae.com, any information you provide will be covered under the third-parties’ terms of use and privacy policy.

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