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Sallie Mae® Private Student Loan Pricing

Information advertised valid as of 2/25/2021.

Undergraduate

Lowest rates shown include the auto debit discount.


Smart Option Student Loan® for Undergraduate Students2

Term:
5-15 years of principal and
interest payments

Variable rates:
1.13% – 11.23% APR

Fixed rates:
4.25% – 12.59% APR

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

A typical repayment example:  This repayment example is based on a typical Smart Option Student Loan made to a freshman borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 6.88% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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Graduate loans

Lowest rates shown include the auto debit discount.


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:
This repayment example is based on a typical Medical School Loan made to a first-year graduate medical borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 10.52% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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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:
This repayment example is based on a typical Dental School Loan made to a first-year graduate dental borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 10.98% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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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:
This repayment example is based on a typical MBA Loan made to a first-year graduate MBA borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.49% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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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:
This repayment example is based on a typical Law School Loan made to a first-year graduate law borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.21% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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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:
This repayment example is based on a typical Graduate School Loan for Health Professions made to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.49% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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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:
This repayment example is based on a typical Graduate School Loan made to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.49% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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Additional loans

Lowest rates shown include the auto debit discount.


Sallie Mae® Parent Loan3

Term:
10 years of principal and
interest payments

Variable rates:
3.37% APR − 12.99% APR

Fixed rates:
5.49% APR − 13.87% APR

2 Repayment Options:
Interest repayment
Principal and Interest repayment

A typical repayment example:
This repayment example is based on a typical Parent Loan made to a borrower (on behalf of a freshman student) who chooses a variable rate and the Principal and Interest Repayment Option for a $10,000 loan, with two disbursements, and a 12.99% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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Career Training Smart Option Student Loan® 4

Term:
5 − 15 years of principal and
interest payments

Variable rates:
4.12% APR − 11.52% APR

Fixed rates:
6.62% APR − 13.83% APR

2 Repayment Options:
$25 Fixed repayment
Interest repayment

A typical repayment example:
This repayment example is based on a typical Career Training Smart Option Student Loan made to a borrower (planning to be enrolled for approximately one academic year), who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 9.31% variable APR. It works out to 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. Variable rates may increase over the life of the loan.

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Bar Study Loan5

Term:
15 years of principal and
interest payments

Variable rates:
2.90% APR − 11.56% APR

Fixed rates:
5.75% APR − 12.68% APR

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

A typical repayment example:
This repayment example is based on a typical loan term available for a Bar Study Loan made at the time of the student's graduation from an eligible school. It is based on a $15,000 loan, with one disbursement, and a 7.60% variable APR. It works out to 179 payments of $148.55 and one payment of $100.80, for a Total Loan Cost of $26,691.25. Variable rates may increase over the life of the loan.

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Dental Residency and Relocation Loan6

Term:
20 years of principal and
interest payments

Variable rates:
2.90% APR − 9.51% APR

Fixed rates:
6.52% APR − 12.00% APR

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

A typical repayment example:
This repayment example is based on a typical loan term available for the Residency and Relocation Loan made at the time of the student's graduation from an eligible school. It is based on a $20,000 loan, with one disbursement, and a 7.41% variable APR. It works out to 239 payments of $200.37 and one payment of $74.36, for a Total Loan Cost of $47,962.79. Variable rates may increase over the life of the loan.

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Medical Residency and Relocation Loan6

Term:
20 years of principal and
interest payments

Variable rates:
2.90% APR − 9.51% APR

Fixed rates:
6.52% APR − 12.00% APR

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

A typical repayment example:
This repayment example is based on a typical loan term available for the Residency and Relocation Loan made at the time of the student's graduation from an eligible school. It is based on a $20,000 loan, with one disbursement, and a 7.41% variable APR. It works out to 239 payments of $200.37 and one payment of $74.36, for a Total Loan Cost of $47,962.79. Variable rates may increase over the life of the loan.

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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.

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 and may be suspended during periods of 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 throughout the life of the loan—beginning with disbursement, during school, through any grace/separation period, and ending when the loan is paid in full. 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 freshman borrower with no other 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 to a person borrowing for a freshman student.

4 Career Training Smart Option Student Loan: Interest is charged throughout the life of the loan—beginning with disbursement, during school, through any grace/separation period, and ending when the loan is paid in full. 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 whose planned term for enrollment is approximately one academic year with no other Sallie Mae loans.

5 Bar Study Loan: Interest is charged throughout the life of the loan—beginning with disbursement, during school, through the 9-month grace period, and ending when the loan is paid in full. 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 throughout the life of the loan—beginning with disbursement, during school, through the applicable grace period, and ending when the loan is paid in full. 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.

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.