Variable rates:
1.13% APR
to 11.23% APR2
Fixed rates:
 3.50% APR
to 12.60% APR2
Lowest rates shown include the auto debit discount.2 Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.

Whether you're studying online or on campus, get the money you need for college—and flexible ways to repay

Cover up to 100% of school-certified expenses
Cover up to 100% of school-certified expenses

Including tuition, fees, books, housing, meals, travel, and even a laptop.3

No origination fee or prepayment penalty
No origination fee or prepayment penalty

pay as early or as much as you’d like with no penalty

Pay now or pay later—make in-school payments to lower your overall loan costs
Pay now or pay later—make in-school payments to lower your overall loan costs

or defer payments until after graduation.2

Explore options to help your student

You can help pay for school by cosigning a Smart Option Student Loan® for Undergraduate Students, or taking out a Sallie Mae® Parent Loan in your own name. Compare the loans.

Going to graduate school?

Learn about our suite of specialized graduate loans with options for all disciplines.

For degree-granting institutions

Apply online for your undergraduate loan now. It's fast and easy.

Fill out some basic information and find out how much you qualify to borrow in just minutes.

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.
This loan is for undergraduate students at participating 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.
1. This promotional benefit is provided at no cost to borrowers with undergraduate, graduate, 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 for complete details. This offer expires one year after issuance.
2. 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. Advertised APRs assume a $10,000 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. 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. 
3. 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. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
Information advertised valid as of 11/25/2021.
Smart Option Student loans loans are made by Sallie Mae Bank.