If you’ve applied for graduate school scholarships (yes, they’re a thing!), you used your savings, and you applied for federal financial aid through the FAFSA–then you might consider a private graduate student loan to cover any remaining grad school expenses.
Choose the right loan to cover your graduate degree or post-graduate studies
Pay for your expenses as you pursue your master's or doctoral degree in a discipline that's not listed below
Pay for your medical degree expenses in allopathic, general, osteopathic, podiatric, radiology, sports, and veterinary medicine
Pay for your expenses associated with taking board examinations, traveling for interviews, and moving for your medical residency
Pay for your health professions degree expenses in allied health, nursing, pharmacy, and other graduate-level health programs
Pay for your dental degree expenses in general dentistry, endodontics, oral and maxillofacial surgery, orthodontics, pediatric dentistry, periodontics, and prosthodontics
Pay for your expenses associated with taking board examinantions, traveling for interviews, and moving for your dental residency
Pay for your expenses associated with fees and living cost as you study for the bar exam
Considering a graduate loan to help cover the cost of your next degree? Here are some FAQs to help you understand what types of loans to consider, how to apply, and how much aid you can qualify for.
Grad students can apply for federal and private loans. Federal loans are funded by the federal government, and you apply for Federal Direct Loans and Direct Graduate PLUS Loans by filling out a FAFSA®. Private student loans are offered by banks and credit unions, and you apply directly with the lender. Sallie Mae offers private student loans for graduate school.
Depending on the professional field that you're planning to enter, you may have different needs for a graduate student loan. For example, medical and dental degrees often require residencies, so it can help to have a deferment period. That’s why we offer graduate student loans designed for specific degrees: medical school, dental school, law school, MBA, and health professions graduate school. We also have a Graduate School Loan for humanities, sciences, and other degrees.
Learn more about the differences between federal and private student loans for graduate students.footnote 1
It's easy to apply for a graduate student loan. Use the “Apply for a loan” button on this page to start. You’ll be asked a few questions to decide which graduate loan is right for you. Then, you'll fill out some basic information about you and your studies. The process usually only takes around 15 minutes.
The amount that you can borrow for graduate school generally depends on the loan. Most of our graduate student loans let you borrow from $1,000 up to 100% of the school-certified Cost of Attendance (COA).footnote 2
The COA is an estimate of what you'll pay for expenses like tuition and fees, room and board, books and supplies, travel to and from school, a laptop or other technology, and personal expenses. You’ll most likely find it in your financial aid award letter or on your school’s website.
Private graduate student loans are credit-based. The lender wants to know how responsible you are with credit before approving your student loan application. That means they'll view your history of borrowing money and paying it back on time. If you believe your credit history isn't strong, consider adding a cosigner. Their good credit may help you get approved for your loan.
The greatest benefit to taking out a graduate student loan is being able to pay for the graduate education that's important to you. Most grad students see the expense of getting a degree as an investment in their future.3 Many believe that it can help them enter or advance in their chosen career field, and potentially reward them with higher earnings.footnote 3
Learn about the different student loans we offer.
