Sallie Mae® is the nation's #1 private student lender

  • Join the more than 1M students who choose Sallie Mae
  • Easy online application
  • Apply once for the money you need for the entire year

Undergraduate loan rates

Fixed rates:
4.50% APR
to 15.49% APRfootnote 1
Variable rates:
6.37% APR
to 16.70% APRfootnote 1
Lowest rates shown include the auto debit discount.footnote 1 Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.

Your education matters most to us

Some lenders may offer you a credit card or checking account. Not us. We focus on one thing: helping you crush your education goals. Apply and see why more students choose our private loans over all the others. 

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We support all kinds of students

Going to college or grad school? Training for a new career path? We’ll support your education journey from start to finish. Wherever you’re headed, whether you’re going full time or part time, Sallie can get you covered. 

Get a student loan you can count on

Complete your application in minutes

What do students think of Sallie Mae?

Quotation marks
Sallie Mae was the only group that would accept my application since I didn't have a well-established credit score."

George M., New York

Quotation marks
The entire process, from applying through disbursement through repayment, was very simple and efficient."

Ellington T., Virginia

Quotation marks
Getting approved for a Sallie Mae loan was fairly simple. And took a huge weight off my shoulders when it came to paying for my education."

Desirea M., California

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Searching for Discover® student loans?

As of February 1, 2024, Discover no longer accepts applications for student loans. If you’re looking for a new lender, we’re ready to help. 

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Questions? We're here to help!

It's easy to get started

Follow these steps:

  • Tell us the basics

    We’ll need some basic information from you (and your cosigner, if you have one) like name, address, date of birth, and school details.

  • Customize your loan

    Once you’re approved, pick the interest rate and repayment options that work best for you.

  • Sign and go

    Read and review all your loan documents. Once you sign and accept your loan, we’ll take care of the rest with your school.

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footnote 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.

footnote All reviews on this page were provided by customers who completed Net Promoter Score (NPS) surveys. Reviewers were not compensated by Sallie Mae for providing their review.

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., 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. Requested loan amount must be at least $1,000.

footnote 1. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. 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 2. 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 Information advertised valid as of 4/16/2024.

footnote Discover and Discover Financial Services are registered trademarks of Discover Financial Services.


footnote Sallie Mae loans are made by Sallie Mae Bank.