Undergraduate

Lowest rates shown include the auto debit discount.1

Smart Option Student Loan® for Undergraduate Students2

Term: 10-15 years of principal and interest payments

Variable rates: 3.37% – 13.72% APR

Fixed rates: 3.75% – 13.72% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 9.63% fixed APR, 51 payments of $25.00, 119 payments of $172.95 and one payment of $121.42, for a Total Loan Cost of $21,977.47. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.07% fixed APR, 27 payments of $25.00, 179 payments of $125.36 and one payment of $49.52 for a total loan cost of $23,163.96. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.

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Graduate loans

Lowest rates shown include the auto debit discount.1

Sallie Mae® Medical School Loan3

Term: 20 years of principal and interest payments

Variable rates: 3.87% APR − 13.47% APR

Fixed rates: 4.25% APR − 12.84% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Medical School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 81-month in-school and separation period, it works out to 9.74% fixed APR, 81 payments of $25.00, 238 payments of $153.25 and one payment of $114.28, for a total loan cost of $38,612.78. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years.

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Sallie Mae® Dental School Loan3

Term: 20 years of principal and interest payments

Variable rates:  3.87% APR −  13.47% APR

Fixed rates: 4.25% APR − 12.85% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Dental School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 57-month in-school and separation period, it works out to 10.13% fixed APR, 57 payments of $25.00, 238 payments of $137.50 and one payment of $119.30, for a total loan cost of $34,269.30. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years.

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Sallie Mae® MBA Loan3

Term: 15 years of principal and interest payments

Variable rates:  3.87% APR −  13.50% APR

Fixed rates:  4.25% APR − 12.92% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 MBA Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 12.78% fixed APR, 27 payments of $25.00, 178 payments of $154.24 and one payment of $152.19, for a total loan cost of $28,281.91. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Sallie Mae® Law School Loan3

Term: 15 years of principal and interest payments

Variable rates: 3.87% APR − 13.47% APR

Fixed rates: 4.25% APR − 12.85% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Law School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 42-month in-school and separation period, it works out to 10.32% fixed APR, 42 payments of $25.00, 179 payments of $140.93 and one payment of $69.41, for a total loan cost of $26,345.88. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Sallie Mae® Graduate School Loan for Health Professions3

Term: 15 years of principal and interest payments

Variable rates: 3.87% APR − 13.50% APR

Fixed rates: 4.25% APR − 12.92% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Graduate School Loan for Health Professions with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 12.78% fixed APR, 27 payments of $25.00, 178 payments of $154.24 and one payment of $152.19, for a total loan cost of $28,281.91. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Sallie Mae® Graduate School Loan3

Term: 15 years of principal and interest payments

Variable rates: 3.87% APR − 13.50% APR

Fixed rates: 4.25% APR − 12.92% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Graduate School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 12.78% fixed APR, 27 payments of $25.00, 178 payments of $154.24 and one payment of $152.19, for a total loan cost of $28,281.91. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Additional loans

Lowest rates shown include the auto debit discount.1

Smart Option Student Loan for Career Training4

Term: 10 – 15 years of principal and interest payments

Variable rates: 3.37% – 14.08% APR

Fixed rates: 3.75% – 14.08% APR

3 Repayment Options: Deferred repayment, $25 Fixed repayment, Interest repayment

A typical repayment example:

Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 2-year in-school period, it works out to a 10.02% fixed APR, 27 payments of $25.00, 119 payments of $153.59 and one payment of $108.14, for a Total Loan Cost of $19,060.35. For a borrower with $10,000 in prior loans and a 1-year in-school period, it works out to a 10.18% fixed APR, 15 payments of $25.00, 143 payments of $130.35 and one payment of $77.93 for a total loan cost of $19,092.98. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.

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Bar Study Loan5

Term: 15 years of principal and interest payments

Variable rates: 5.14% – 14.77% APR

Fixed rates: 5.25% – 13.66% APR

No payments while you’re enrolled at least half-time and during your grace period

A typical repayment example:

Example of a typical transaction for a $15,000 Bar Study Loan with the most common fixed rate, and one disbursement. For borrowers with no in-school period and a 9-month grace period, it works out to 10.44% fixed APR, 179 payments of $179.43 and one payment of $76.92, for a toal loan cost of $32,194.89. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Dental Residency and Relocation Loan6

Term: 20 years of principal and interest payments

Variable rates: 5.09% – 10.65% APR

Fixed rates: 5.93% – 10.19% APR

No payments while you’re enrolled at least half-time and during your grace period

A typical repayment example:

Example of a typical transaction for a $20,000 Residency and Relocation Loan Loan with the most common fixed rate, and one disbursement. For borrowers with no in-school period and a 36-month grace period, it works out to 8.23% fixed APR, 239 payments of $218.43 and one payment of $47.79, for a toal loan cost of $52,252.56. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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Medical Residency and Relocation Loan6

Term: 20 years of principal and interest payments

Variable rates: 5.09% – 10.65% APR

Fixed rates: 5.93% – 10.19% APR

No payments while you’re enrolled at least half-time and during your grace period

A typical repayment example:

Example of a typical transaction for a $20,000 Residency and Relocation Loan Loan with the most common fixed rate, and one disbursement. For borrowers with no in-school period and a 36-month grace period, it works out to 8.23% fixed APR, 239 payments of $218.43 and one payment of $47.79, for a toal loan cost of $52,252.56. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years.

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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.

1. 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. 

2. Smart Option Student Loan for Undergraduate Students: 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.

3. Sallie Mae Medical School Loan, Sallie Mae Dental School Loan, Sallie Mae MBA Loan, Sallie Mae Law School Loan, Graduate School Loan for Health Professions, and Sallie Mae Graduate School 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. 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. All Advertised APRs assume a $10,000 loan. Medical School Loan and Dental School Loan APRs assume 4 years in school. Law School Loan APRs assume 3 years in school. MBA Loan, Graduate School Loan for Health Professions, and Graduate School Loan APRs assume 2 years in school.

4. Smart Option Student Loan for Career Training: 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 2 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.

5. Bar Study Loan: Interest is charged starting when the funds are sent to you. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. 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 $15,000 loan disbursed at the time of the student's graduation from school.

6. Dental Residency and Relocation Loan and Medical Residency and Relocation Loan: Interest is charged starting when the funds are sent to you. For those who graduate, the grace period is 36 months. For those who withdraw or whose attendance falls below half-time status, the grace period is 9 months. Once principal and interest repayment begins, any Unpaid Interest will be added to Current Principal, increasing the Total Loan Cost. 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 $20,000 loan disbursed at the time of student's graduation from school.

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.

Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Sallie Mae loans are made by Sallie Mae Bank.