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Benefit from these features—with any loan

Competitive interest rates

No origination fee or
prepayment penalty

Multiple repayment options

Undergraduate student loan


Smart Option Student Loan® for Undergraduate Students

For bachelor’s and associate’s degrees or a certificate at a degree-granting school

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 11.23% APR
Fixed: 5.74% – 11.85% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Apply to release your cosigner from your loan after you graduate, make 12 on-time principal and interest payments, and meet certain credit requirements.*

Loan term: 5 – 15 years of principal and interest payments.**


* Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.

** This repayment example is based on a typical loan to a borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.88% fixed APR. It works out to 51 payments of $25 per month, 119 payments of $162.06 per month and one payment of $120.30, for a Total Loan Cost of $20,680.44.

Parent LoanSM


Parent LoanSM

For parents or other creditworthy individuals who want to take responsibility for financing their student’s undergraduate, graduate, or certificate education at a degree-granting school

Apply for this loan

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Variable or fixed interest rate
Starting variable:
5.87% – 12.24% APR*
Fixed: 5.74% – 12.87% APR*

2 repayment options*

  • Interest repayment
  • Principal and interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.**

Loan term: 10 years of principal and interest payments.***


* APRs for the Principal and Interest Repayment Option are higher than APRs for the Interest Repayment Option. Variable rates may increase over the life of the loan. APRs assume a $10,000 loan to a person borrowing for a freshman student.

** Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction 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 therefore be suspended during a forbearance.

** * This repayment example is based on a typical loan to a borrower (on behalf of a student) who chooses a variable rate and the Interest Repayment Option for a $10,000 loan, with two disbursements, and a 9.11% variable APR. It works out to 4 payments of $38.02, 44 payments of $76.04, 119 payments of $127.83 and one payment of $94.05, for a Total Loan Cost of $18,803.66. Variable rates may increase over the life of the loan.

Loans for graduate students


MBA LoanSM

Pay for your business school expenses as you pursue your Masters of Business Administration degree

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Variable or fixed interest rate
Starting variable:
4.37% – 9.40% APR
Fixed: 6.25% – 9.16% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 15-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 8.15% fixed APR. It works out to 27 payments of $25.00, 179 payments of $107.46 and one payment of $63.47, for a Total Loan Cost of $19,973.81.

Medical School LoanSM

Pay for your medical degree expenses in allopathic, general, osteopathic, podiatric, radiology, sports, and veterinary medicine

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 9.11% APR
Fixed: 6.24% – 8.86% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 20-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate Medical borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 7.71% fixed APR. It works out to 81 payments of $25.00, 239 payments of $114.50 and one payment of $42.00, for a Total Loan Cost of $29,432.50.

Dental School LoanSM

Pay for your dental degree expenses in general dentistry, endodontics, oral and maxillofacial surgery, orthodontics, pediatric dentistry, periodontics, and prosthodontics

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 9.11% APR
Fixed: 6.24% – 8.86% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 20-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate Dental borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 7.93% fixed APR. It works out to 57 payments of $25.00, 239 payments of $105.55 and one payment of $38.90, for a Total Loan Cost of $26,690.35.

Health Professions Graduate LoanSM

Pay for your health professions degree expenses in allied health, nursing, pharmacy, and other graduate-level health degrees

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 9.40% APR
Fixed: 6.25% – 9.16% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 15-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 8.15% fixed APR. It works out to 27 payments of $25.00, 179 payments of $107.46 and one payment of $63.47, for a Total Loan Cost of $19,973.81.

Law School LoanSM

Pay for your school and associated expenses as you study for your law degree

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 9.16% APR
Fixed: 6.24% – 8.93% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 15-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate Law borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 8.03% fixed APR. It works out to 42 payments of $25.00, 179 payments of $113.80 and one payment of $78.60, for a Total Loan Cost of $21,498.80.

Graduate School LoanSM

Pay for your school and associated expenses as you pursue your master’s or doctoral degree

Apply for this loan

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Variable or fixed interest rate
Starting variable:
4.37% – 9.40% APR
Fixed: 6.25% – 9.16% APR

3 repayment options

  • Deferred repayment
  • Fixed repayment
  • Interest repayment

Borrow from $1,000 up to 100% of the school-certified cost of attendance.

Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Loan term: 15-year repayment term of principal and interest payments.*


* This repayment example is based on a typical loan to a first-year graduate borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 8.15% fixed APR. It works out to 27 payments of $25.00, 179 payments of $107.46 and one payment of $63.47, for a Total Loan Cost of $19,973.81.

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

Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest and your selected repayment option applies starting at disbursement, while in school and during your separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. 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 Smart Option Student Loan to a freshman with no other Sallie Mae loans and a $10,000 Sallie Mae Medical School Loan, MBA Loan, Dental School Loan, Graduate School Loan, Law School Loan or Heath Professions Graduate Loan to a first-year graduate.

Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.

Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction 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 therefore be suspended during a forbearance or deferment period.

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.

Smart Option Student Loan for Undergraduate Students and graduate loans: This information is for borrowers attending degree-granting institutions only. Smart Option Student Loan information is for undergraduate borrowers only. You must be attending a participating school located in the U.S. or have attended one during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. For the Dental School Loan, Law School Loan, MBA Loan, and Medical School Loan, students must be enrolling in a graduate-level degree program in a field of study that is eligible for the loan and Graduate Certificate/Continuing Education coursework is not eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Parent Loan: This information is for borrowers with students attending degree-granting institutions only. The student is not eligible to be a borrower or cosigner and must be attending a participating school or have attended one during an eligible prior enrollment period, or be enrolled in an eligible study abroad program. The borrower, cosigner and student must be U.S. citizens or permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount to Sallie Mae. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Information advertised valid as of 11/26/2018.

Sallie Mae Loans are made by Sallie Mae Bank or a lender partner.

The Sallie Mae partner referred is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae Loan customers.