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: 1.13% – 11.23% APR

Fixed rates:  3.50% – 12.60% APR

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

A typical repayment example:

Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common variable 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 6.88% APR, 51 payments of $25.00, 119 payments of $136.17 and one payment of $112.58, for a Total Loan Cost of $17,591.81. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 7.06% APR, 27 payments of $25.00, 179 payments of $98.17 and one payment of $66.85 for a total loan cost of $18,314.28. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.

Graduate loans

Lowest rates shown include the auto debit discount.1

Sallie Mae® Medical School Loan2

Term: 20 years of principal and interest payments

Variable rates: 2.12% APR − 11.48% APR

Fixed rates: 4.75% APR − 11.97% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 81-month in-school and separation period, it works out to 10.52% variable APR, 81 payments of $25.00, 238 payments of $170.75 and one payment of $100.32, for a total loan cost of $42,763.82. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years. Variable rates may increase over the life of the loan.


Sallie Mae® Dental School Loan2

Term: 20 years of principal and interest payments

Variable rates:  2.12% APR −  11.48% APR

Fixed rates: 4.75% APR − 11.98% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 57-month in-school and separation period, it works out to 10.98% variable APR, 57 payments of $25.00, 238 payments of $151.78 and one payment of $90.01, for a total loan cost of $37,638.65. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years. Variable rates may increase over the life of the loan.


Sallie Mae® MBA Loan2

Term: 15 years of principal and interest payments

Variable rates:  2.12% APR −  11.64% APR

Fixed rates:  4.75% APR − 12.11% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.


Sallie Mae® Law School Loan2

Term: 15 years of principal and interest payments

Variable rates: 2.12% APR − 11.48% APR

Fixed rates: 4.75% APR − 11.98% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 42-month in-school and separation period, it works out to 11.21% variable APR, 42 payments of $25.00, 179 payments of $152.87 and one payment of $60.14, for a total loan cost of $28,473.87. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.


Sallie Mae® Graduate School Loan for Health Professions2

Term: 15 years of principal and interest payments

Variable rates: 2.12% APR − 11.64% APR

Fixed rates: 4.75% APR − 12.11% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.


Sallie Mae® Graduate School Loan2

Term: 15 years of principal and interest payments

Variable rates: 2.12% APR − 11.64% APR

Fixed rates: 4.75% APR − 12.11% 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 variable rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a total loan cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Additional loans

Lowest rates shown include the auto debit discount.1

Sallie Mae® Parent Loan3

Term: 10 years of principal and interest payments

Variable rates: 3.37% – 12.99% APR

Fixed rates: 5.49% – 13.87% APR

2 Repayment Options: Interest repayment, Principal and Interest repayment

A typical repayment example:

Example of a typical transaction for a $10,000 Parent Loan with the most common variable rate, the Principal and Interest Repayment Option, 48-month in-school period, and two disbursements. It works out to 12.99% variable APR, 4 payments of $75.05, 115 payments of $151.38 and one payment of $80.65, for a total loan cost of $17,789.55. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.


Career Training Smart Option Student Loan4

Term: 10 – 15 years of principal and interest payments

Variable rates: 4.12% – 11.52% APR

Fixed rates: 6.62% – 13.83% APR

2 Repayment Options: $25 Fixed repayment, Interest repayment

A typical repayment example:

Examples of typical transactions for a $10,000 Career Training Smart Option Student Loan with the most common variable rate, fixed repayment option, 15-month in-school and separation period, and two disbursements: For a borrower with no prior loans, it works out to a 9.31% APR, 15 payments of $25.00, 119 payments of $137.44 and one payment of $102.03, for a total loan cost of $16,832.39. For a borrower with $20,000 in prior loans, it works out to a 9.33% APR, 15 payments of $25.00, 179 payments of $110.70 and one payment of $53.94, for a total loan cost of $20,244.24. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. Variable rates may increase over the life of the loan.


Bar Study Loan5

Term: 15 years of principal and interest payments

Variable rates: 2.90% – 11.56% APR

Fixed rates: 5.75% – 12.68% 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 variable rate, and one disbursement. For borrowers with no in-school period and a 9-month grace period, it works out to 7.60% variable APR, 179 payments of $148.55 and one payment of $100.80, for a toal loan cost of $26,691.25. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.


Dental Residency and Relocation Loan6

Term: 20 years of principal and interest payments

Variable rates: 2.90% – 8.58% 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 variable rate, and one disbursement. For borrowers with no in-school period and a 36-month grace period, it works out to 5.99% variable APR, 239 payments of $171.69 and one payment of $99.28, for a toal loan cost of $41,133.19. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.


Medical Residency and Relocation Loan6

Term: 20 years of principal and interest payments

Variable rates: 2.90% – 8.58% 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 variable rate, and one disbursement. For borrowers with no in-school period and a 36-month grace period, it works out to 5.99% variable APR, 239 payments of $171.69 and one payment of $99.28, for a toal loan cost of $41,133.19. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the 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, if available for the loan.
2. Smart Option Student Loan for Undergraduate Students, 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. Smart Option Student Loan APRs assume a borrower who attends school for 4 years and has no prior Sallie Mae loans. 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.
3. Sallie Mae Parent Loan: APRs for the Principal and Interest Repayment Option may be higher than APRs for the Interest Repayment Option. 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. APRs assume a $10,000 loan with a 4-year in-school period.
4. Career Training Smart Option Student Loan: Interest is charged starting when funds are sent to the school. With the Fixed Repayment Option, 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 are required during the grace/separation period based 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 whose planned term for enrollment is approximately one academic year with no other Sallie Mae loans. 
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 withdrawal 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.