Here’s what you and your cosigner will need to start your application

  • Your address; if you've lived at your address less than one year, you'll need to provide your previous address
  • Your Social Security number
  • School information including enrollment status, degree, and course of study
  • Academic period of enrollment and year in school
  • Requested loan amount. You can cover a full year of school-certified expenses including tuition, fees, books, housing, meals, travel, as well as personal school expenses like a laptop1. (Decide how much to borrow)
  • Financial aid and scholarships you expect to receive
  • Your employment information (company name and gross income)
  • Financial information, including your bank accounts, and your monthly mortgage or rent payments
  • Two personal contacts (other than your cosigner)

Then we’ll review a few things with you

  • How and when we collect, share, and protect your personal information

After you submit your application

  • We’ll review your credit. We usually provide a credit result when you and your cosigner (if applicable) submit your application. But there might be cases where our credit specialists will ask you for additional information or documentation before they can make a decision.
  • If we approve your application, you’ll choose your type of interest rate and your repayment option.
  • Then you or your cosigner will accept the terms of your loan and sign it electronically.
  • Next, we'll ask your school to certify your eligibility, including enrollment verification and loan amount.

Related topics

Learn more about your private student loan options

Whether you’re an undergraduate, graduate, business, dental, medical, or health professions student, you can find a student loan designed to meet your needs.

Consider a cosigner

Students are 4X more likely to be approved when applying with a cosigner.2 It may also help you get a better rate.

What happens after your Smart Option Student Loan® is approved

Understand how student loan disbursements work. Learn how the disbursement of funds take place between your school and loan provider, and when student loans are disbursed.

1. Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
2. Based on a comparison of approval rates for Sallie Mae Smart Option Student Loans for undergraduate students who applied with a cosigner versus without a cosigner during a rolling 12-month period from October 1, 2018 through September 30, 2019.