Make the right college loan choice

Choice of fixed or variable rate type
Easy online application
Apply once and you can get money for the whole year

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Undergraduate loan rates

Fixed rates:

3.19% APR

to 16.99% APR^{footnote 1}

Variable rates:

4.37% APR

to 16.49% APR^{footnote 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.

Pay for more than tuition

Cover up to 100% of school-certified expenses, including books, meals, housing, and even a laptop.^{footnote 2}

Repay your way

Make payments while you’re in school or defer until after graduation. There’s no origination fee or penalty for prepayment.^{footnote 3}

Complete your application
in minutes

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Why do more college students pick Sallie Mae?

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

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

Ellington T., Virginia

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

Questions? We're here to help!

What are the benefits of having 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, usually a parent, who shares responsibility for the loan. By having a cosigner on the application, students’ chances of being approved may increase!

What’s the difference between a fixed and variable rate?

Fixed interest rate
The rate never varies. You’ll have a predictable monthly payment amount.

Variable interest rate
The rate can go up or down with changes to the loan’s index. It can save you money but could cost more, and your monthly payment amount may change.

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.

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.

What’s my school's cost of attendance?

You can figure out how much a whole year of school will cost. Start by checking your financial aid award letter for your school's cost of attendance. You can also find the cost of attendance on your school’s website.

The cost of attendance is what it will cost you to go to school for the year, including expenses like tuition, fees, books, meals, and transportation.

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 option that work best for you.
Sign & 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.

Apply for loan

Young man sitting on his bed and typing on his laptop

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 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. 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 3. Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

footnote Sallie Mae loans are made by Sallie Mae Bank.

footnote Information advertised valid as of 6/25/2025.

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.