Student loans
The right student loans for bright futures
Everyone deserves a chance at a brighter future. Apply for a student loan and get started on your journey.
Student loans built with you in mind
We provide you with a number of different paths to get you started on your educational journey. All you have to do is choose the right one for you.
Fixed rates:
4.50% APRfootnote 1 – 15.49% APRfootnote 1
Variable rates:
6.37% APRfootnote 1 – 16.70% APRfootnote 1
For college students earning a bachelor's or associate's degree, or a certificate at a degree-granting school.
Lowest rates shown include the auto debit discount.
Fixed rates:
4.50% APRfootnote 2 – 15.69% APRfootnote 2
Variable rates:
6.37% APRfootnote 2 – 16.78% APRfootnote 2
For students taking professional training or certificate courses (such as culinary, aviation, technical, etc.).
Lowest rates shown include the auto debit discount.
For graduate students seeking loans for medical, dental, health professions, MBA, law, and master's/doctorate degree expenses.
Rates vary by loan.
Adding a cosigner may strengthen your student loan application
If you have little or no credit history, consider a cosigner. Last year, students were 3x more likely to be approved for a student loan with one!footnote 3
Last year, 87% of Sallie Mae undergraduate loans were cosignedfootnote 4 and it may help you get a better interest rate on your student loan.
The help you need now, and throughout the school year
Cover up to 100%
of school-certified costsfootnote 5
Multiple ways
to repay
ZERO origination fees
Make college your focus
Save time—apply for a student loan once to get money for the whole year so you can focus on studying. And if your plans change, no worries—interest on your loan won't be charged until the money is sent to your school.
Higher education comes with some college costs—bigger ones, like tuition and housing, and smaller ones, like books and a laptop. We can help you get the money you need for school.footnote 5
Take comfort, Get covered
Our multi-year advantage means you can get the money you need year after year. 97% of students who’ve been approved with a cosigner were approved again when they returned with a cosigner the following year.footnote 6 Plus, you’ll get the convenience of a faster student loan application and managing all your private student loans with one lender.
Need help? Our 100% U.S.-based customer service team is here for you.
Paying back comes with benefits
Our multiple student loan repayment options on college loans give you more flexibility on how you can pay them back. Plus, you'll get free access to your FICO® score, which is updated quarterly online.footnote 7
Our loans for college students have no origination fees and provide competitive interest rates.
Plus, you get a 0.25 percentage point interest rate discount when you enroll in and make monthly student loan payments using auto debit.footnote 8
Get more from your student loans
Footnotes are applicable to Sallie Mae loans only.
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Sallie Mae |
Discover |
Citizens |
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Cover up to 100% of the cost of attendance minus financial aidfootnote 5
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Fixed and variable rate options
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In-school or deferred repayment options for undergraduate and graduate loan borrowersfootnote 1 |
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Less-than-half-time enrollment eligibility
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Interest only payments for 12 months after grace period for qualifying undergraduate and graduate loan borrowersfootnote 9
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Some frequently asked questions about student loans
A student loan is money that’s loaned to you by a bank or other financial institution to help pay for your education. All loans need to be paid back. When you pay back loans for school, your repayment amount includes the full amount you borrowed, plus interest (the amount your lender charges you for borrowing the money).
There are school loans available for students in undergraduate, graduate, certificate, dental, medical, and health professions programs. Sallie Mae also offers student loans for graduates studying for the bar exam or relocating for medical and dental residencies.
Private loans for college—offered by banks like Sallie Mae, credit unions, and other financial institutions—are based on your creditworthiness. This means your lender will check to see if you have a history of borrowing money and paying it back on time. Since many students haven't had time to build credit, applying for a private student loan with a cosigner—a parent, relative, or other adult with good credit—may increase your chances for approval and help get you a better rate.
For private student loans in general, you may be approved to borrow up to 100% of your school-certified costs for the entire year, if needed.
You should borrow only what you can afford to pay back later. Consider how much you may earn in your future career. Use a responsible borrowing approach. Use free money first and explore federal loans before considering private student loans. To help estimate your future income potential, you can visit the US Department of Labor at bls.gov.
You can fill out a student loan application right on the lender’s website. There’s no cost to apply. You’ll be asked to enter some basic personal and financial information, and choose the type of interest rate and repayment plan you want for your loan. If you’re applying with a cosigner, they’ll also need to provide their financial info.
You can use student loan funds to cover any of your school costs included in your school's cost of attendance for the year, which might include the following for students attending school at least half time:
- Tuition
- Fees
- Books
- Housing
- Meals
- Travel to and from school
- A laptop
- Equipment, supplies, and tools
Repayment terms vary by lender. Because more interest gets added to your loan balance over time, you may be able to save money by paying off your loan sooner.
Use our Accrued Interest Calculator to see how much you can save by paying more towards your loan.
Yes, it may. Your lender will need to run a credit check to see if you qualify for the college loan, which may impact your credit score.
You may boost your chances of being approved by adding a cosigner (such as a parent, relative, or other responsible adult). Last year, 87% of Sallie Mae undergraduate loans were cosigned.footnote 4
A fixed rate is one that doesn’t change over the life of your loan, so your monthly payment stays the same. A variable interest rate can go up or down with the market, increasing or lowering your monthly payment as it does.