The right loan for nursing school students

With our undergraduate loan, you can get the money you need for nursing school and pursue your passion.

Apply now

Fixed rates

2.89%

to 17.49% APR^{footnote 1}

Fixed means your interest rate never changes.

If you want a predictable monthly payment, this is the way to go.

Variable rates

4.12%

to 16.75% APR^{footnote 1}

Variable interest rates go up or down as the market changes.

This means your monthly payments may also change—they might be higher if interest rates rise and lower if they fall.

Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.

Loan benefits you won't want to miss

Up to 100% coverage

Tuition, tech, other fees—we’re on it.^{footnote 2}

No origination fees

There’s no fee to process a loan or if you pay it off early.^{footnote 3}

Consider a cosigner

Students with cosigners were 4x more likely to be approved last year.^{footnote 4}

Save money

Get a 0.25 percentage point discount with auto debit.^{footnote 5}

Breaking down your repayment options

Pay interest in school

Pay some in school

Pay after school

Interest repayment option

How does it work?
You pay your interest every month you’re in school and in grace (the 6 months after).^{footnote 1}

This is a great option if you want to save the most on your total loan cost.

Keep in mind:
You might have higher monthly payments, but the total cost of your loan may be lower.

Fixed repayment option

How does it work?
You pay $25 every month^{footnote 6} you’re in school and in grace.^{footnote 1}

This is a great option if you want to make a dent in payments from the start.

Keep in mind:
Any interest you don’t pay during school will be added to your principal amount (total borrowed) after grace.   

Deferred repayment option

How does it work?
You’ll have no scheduled payments while you’re in school and in grace.^{footnote 1}

This is a great option if you want to focus on class and not on making loan payments.

Keep in mind:
The total cost of your loan may be higher because the interest you don’t pay on your loan while you’re in school and grace will be added to the original amount you borrowed (principal amount).

Apply in
minutes

1. Tell us some basics

2. Choose your loan options

3. Sign and accept

Apply now

Are you going for an advanced nursing degree?

Our graduate school loan for health professions can help you pay for a graduate-level health degree.

FAQs

Have other questions? We’re here to help.
1-877-279-7172

Do I need a cosigner?

Why should I borrow for the entire school year?

How long does it take to get a Smart Option Student Loan?

It takes about 10 minutes to apply and get a credit decision. After you’re approved, you choose your loan rate type and repayment options, accept your loan disclosure, e-sign and provide any other requested information, and the loan is certified by your school. We send (disburse) the funds directly to the school. The process can take as few as 10 business days from application to disbursement.

Can I qualify if attending school online, or less than half-time?

Whether you study online or on campus, you can borrow to cover the costs at a participating institution, even if you're not a full- or half-time student. The loan's flexibility makes it a good choice for many situations:

Attending school full-time, half-time, or less than half-time
Online or on-campus classes
Winter or summer classes
Study abroad
Professional certification courses
A U.S. citizen or permanent resident enrolled in a school in a foreign country
Students who are not U.S. citizens or permanent residents residing in and attending school in the U.S. (with a cosigner who is a U.S. citizen or U.S. permanent resident)

When do I start paying back my student loan?

With the Smart Option Student Loan, you can select from three repayment options. While in school, you can choose to make monthly interest payments or fixed $25 payments,^{footnote 6}—or you can choose to defer payments until after school.^{footnote 1} The repayment option you choose applies during school and for six months after you leave school (your grace period). After that, you begin to make principal and interest payments.

How do you decide if I qualify for a student loan?

When you apply, we look at your history of borrowing money and paying it back on time. Lenders want to know how responsible you are with credit before approving your student loan application. Many college-bound high school students haven’t had time to build up their own credit. That’s why they apply with a cosigner, a creditworthy adult who shares the responsibility of the student loan.

What information do I need when applying with a cosigner?

You and your cosigner will want to have your school information, amount needed (remember, you can use it to pay for school-certified expenses for the entire year) as well as your cosigner’s financial and employment information. You or your cosigner may start the application, however, should your cosigner not be with you, we can send along an email with a link to their section of the application so they can fill it in later.

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 Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.

footnote 1. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-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 2. 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 3. 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 4. 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 5. 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 6. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.

footnote Sallie Mae loans are made by Sallie Mae Bank.

footnote Information advertised valid as of 11/25/2025.

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.