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interest rates

origination fees

No payments
in school

For Degree-Granting Institutions For Degree-Granting Institutions


Choose the Smart Option Student Loan®

  • Defer your payments until after school or pay as much as you want while in school.1
  • Variable interest rates range from 3.17% APR – 9.37% APR1
  • No origination fees.
  • Prepay your loan at any time with no penalty
  • Borrow up to 100% of your school-certified cost of attendance.2



Applying online is easy—it only takes about 15 minutes to apply and get a credit result.

Get Started 

We also offer fixed interest rates from 6.41% APR – 11.69% 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.

This information is for borrowers attending degree-granting institutions only. Applications are subject to a requested minimum loan amount of $1,000. Credit criteria and eligibility requirements apply.

1 Interest rates for the Deferred Repayment Option are higher than for loans with the Fixed and Interest Repayment Option. Variable rates may increase after consummation. Interest is charged while you are in school and during the 6-month separation period. Any interest that remains unpaid when you enter full repayment will be added to your loan balance. The deferred repayment option is only available to borrowers attending degree-granting institutions.

2 As certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. Requested amounts exceeding $99,999 may require multiple loans.

Information advertised valid as of 3/25/2015.


Sallie Mae, Smart Option Student Loan, and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

Smart Option Student Loans are made by Sallie Mae Bank or a lender partner.