Competitive interest rates

3 repayment options

No origination fee

For Degree-Granting Institutions For Degree-Granting Institutions

 
 
 

The Smart Option Student Loan

Choose what’s right for you:

  • Choose from multiple repayment options, including no payments while in school1
  • Get competitive variable interest rates – 3.25% APR to 10.22% APR1
    (Competitive fixed interest rates also available)
  • Pay no origination fee
  • Prepay your loan at any time with no penalty
  • Borrow up to 100% of the school-certified cost of attendance2

Link Your Loan to your Upromise account

Use your Upromise cash back earnings to help pay down your eligible student loan with Upromise Loan Link®3. It's free, easy, and automatic.

 
 

Apply online – it’s easy! It only takes about 15 minutes to apply and get a credit result.

Get Started 

 
 

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.

This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. 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. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school and during your six-month 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 APRs assume a $10,000 loan to a freshman with no other Sallie Mae loans.

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

3 Only the borrower can link Upromise and loan accounts. Not all loans may be eligible for linking. Please visit Upromise.com/loanlink for details. Upromise account balances of $10 or more will be automatically transferred on a monthly basis to the linked loan account. For multiple linked loans, Upromise earnings will be allocated at the sole discretion of Upromise and Sallie Mae. Access to Upromise is not limited to Sallie Mae loan customers.

Information advertised valid as of .

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.

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