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.