For Degree-Granting Institutions For Degree-Granting Institutions
Your loan. Your choice.
Defer payments until 6 months after school, or pay as much as you want while in school, to enjoy maximum flexibility.1
Pay just $25 a month2 while in school and for six months after school.1
Pay interest while in school and for six months after school.1
The Smart Option Student Loan offers these benefits:
- Competitive variable interest rates and no origination fees1
Get variable interest rates that range from 2.25% APR to 9.37% APR.
- Rewards for paying on time3
Get a Smart Reward® in your Upromise® account of 2% of your scheduled monthly payments that are made on time while in school with the Interest and Fixed Repayment Options.
- Lower your interest rate4
Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
- Get the money you need
Borrow up to 100% of your school-certified cost of attendance (minimum $1,000).5
Applying online is easy—it only takes about 15 minutes to apply and get a credit result.
You'll choose your repayment option during the application process.
We also offer fixed interest rates from 5.74% APR – 11.85% APR.1 Learn more
Encouraging Responsible Borrowing
Sallie Mae has helped more than 30 million Americans pay for college since 1972. We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.
New! Free quarterly FICO® credit score
Borrowers who have a loan disbursed during the 2014-15 academic year may receive their FICO® Score quarterly. You'll also receive access to the two key factors affecting your score, and educational content to help you understand why monitoring your FICO® Score is important.6
Apply with a cosigner
If a parent or other creditworthy individual cosigns the loan with you, it may help lower your interest rate - and give you a better chance of approval.
Cosigner release available
After graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments and meet certain credit requirements.7