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Undergraduate student loans

For bachelor's and associate degrees, or certificates from degree-granting schools.

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Graduate student loans

For graduate degrees and other master’s and doctorate programs.

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Career training student loans

For professional training or certificate courses like culinary, aviation, technical, and more.

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MBA
Law
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Sallie Mae has been really easy to work with, and the monthly payment system is low-stress and manageable.

Sophia P.

Massachusetts

Loan benefits you won't want to miss

Up to 100% coverage
Tuition, tech, other fees—we’re on it.footnote 1 Apply once for the year.
No origination fees
There’s no fee to process a loan or if you pay it off early.footnote 2
Consider a cosigner
Students with cosigners were 4x more likely to be approved last year.footnote 3
Repay your way
Choose what works for your budget & save if you choose auto debit.footnote 4

What you gain with our student loans

Footnotes only apply to Sallie Mae loans.

Sallie Mae

Other competitors

Less than half-time enrollment eligibility

Apply for cosigner release after 12 months of on-time principal and interest payments and credit requirements have been metfootnote 5

Interest-only payments for 12 months after grace period for qualifying undergraduate and graduate loan borrowersfootnote 6

Loan can be used for eligible professional training, trade school, and certificate programsfootnote 7

Cover up to 100% of the cost of attendance minus financial aidfootnote 1

Fixed and variable interest rate options

In-school or deferred repayment options for career trainingfootnote 7, undergraduatefootnote 8, and graduate loan borrowersfootnote 9
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Consider applying with a cosigner
A cosigner may help you get a lower interest rate.

FAQs

Have other questions? We’re here to help.  
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What’s a private student loan?

A private 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).

 How much can I borrow in private student loans?

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.

How can I apply for a private student loan?

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. Remember that the lender will do a credit check to see if you’re eligible for a loan, so your credit score may be affected by applying.

What can college student loans be used for?

You can use student loan funds to cover any of your school costs included in your school's cost of attendance (COA) 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 

 

Get more expert advice on what you can and cannot use your student loan money for.

What are the benefits of a cosigner?

You may boost your chances of being approved by adding a cosigner (such as a parent, relative, or other responsible adult). Last year, 91% of Sallie Mae undergraduate loans were cosigned.footnote 10

What’s the difference between a fixed and variable rate?

Fixed interest rate
The rate never changes, so you’ll have a predictable monthly payment amount.

 

Variable interest rate
The rate can go up or down as market conditions change. This means your student loan payments may also change—you might have lower payment amounts if interest rates fall and higher payments if interest rates rise.

How do I qualify for a Sallie Mae student loan?

Sallie Mae offers different types of student loans, and the eligibility requirements differ for each loan:

 

Private student loans are credit-based which means the lender will check your credit rating and other info. If you’re just entering college, you may not have much credit history, so you may need a creditworthy cosigner. A cosigner shares responsibility with you for paying back the loan.

 

A lender wants to make sure you’ll be able to pay back your loan after you borrow the money. That’s why they consider whether you and/or your cosigner are “creditworthy.” The lender will evaluate your credit history to see how you’ve handled your finances in the past.

 

That’s why the first step a lender will take after you submit your application is to see if your (and your cosigner’s) credit history meets their guidelines.

  • Every lender has specific criteria that they look for—this can include a particular credit score range, outstanding debts, income, and more.
  • When you (and your cosigner, if you have one) pass the credit review, you’ll be notified that you’re approved. It can take as few as 10 minutes to find out whether you’ve met their credit requirements. If the lender needs more information, the approval can take a few business days.

 How quickly can I get my student loans?

After you apply and your loan is approved, a certification request is sent to your school. All schools have different processes for certification—some certify daily, weekly, biweekly, etc. Most schools only certify 30 days before the enrollment period begins, even though you may have applied months in advance.

 

When certification is received, and after the right to cancel period has expired, your student loan is ready to be disbursed (sent to your school).

  • A disbursement is funds that are sent to your school. Loan funds may be divided into multiple disbursements (usually one per semester).
  • If you chose a repayment option that requires in-school payments, your monthly payments will begin as soon as your funds are disbursed.

footnote Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

footnote Undergraduate and Graduate School loans are for students at participating degree-granting schools. Career training student loans are for students at participating non-degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

footnote All reviews on this page were provided by customers who completed Net Promoter Score (NPS) surveys. Reviewers were not compensated by Sallie Mae for providing their review.

footnote 1. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. 

footnote 2. 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. 

footnote 3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.

footnote 4. The 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. It may be suspended during forbearance or deferment. 

footnote 5. Only the borrower may apply for cosigner release. To do so, they must first meet the age of majority in their state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if their status has changed since they applied). In the last 12 months, the borrower can’t have been past due on any loans serviced by Sallie Mae for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. In addition, the borrower must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. The borrower must also demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change.

footnote 6. GRP allows interest-only payments for the initial 12-month period of repayment when the loan would normally begin requiring full principal and interest payments or during the 12-month period after GRP request is granted, whichever is later. At the time of GRP request, the loan must be current. The borrower may request GRP only during the six billing periods immediately preceding and the twelve billing periods immediately after the loan would normally begin requiring full principal and interest payments. GRP does not extend the loan term. If approved for GRP, the Current Amount Due that is required to be paid each month after the GRP ends will be higher than it otherwise would have been without GRP, and the total loan cost will increase.

footnote 7. Advertised APRs for career training students assume a $10,000 loan with a 2-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent.  Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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. It may be suspended during forbearance or deferment.

footnote 8. Advertised APRs for undergraduate students assume a $10,000 loan with a 2-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent.  Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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. It may be suspended during forbearance or deferment.

footnote 9. Advertised APRs for Graduate School Loan, MBA Loans, and Graduate School Loan for Health Professions assume a $10,000 loan with a 1-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent.  Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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. It may be suspended during forbearance or deferment.

footnote 10. Based on the percentage of approved undergraduate loans that were cosigned from October 1, 2023 to September 30, 2024. 

footnote Sallie Mae loans are made by Sallie Mae Bank. 

footnote Information advertised valid as of 7/3/2025.

footnote 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. 

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