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Variable rates:

2.25% APR

to 7.96% APR

Fixed rates:

5.50% APR

to 10.23% APR

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

Designed for your graduate school needs with 0% origination fee

100%

coverage

of all your school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop. No max for all years of graduate school.

94%

approval rate

for graduate students who return for their next loan with a cosigner through our Multi-Year Advantage.

48

months of deferment

during your internship or fellowship.

15

years to repay

your Graduate School Loan with no prepayment penalty.

6

month grace period

to support you during the start of your career.

Choose the loan option that works for you

Select a variable or fixed interest rate


Variable rate: 2.25% - 7.96% APR

Your interest rate can rise or fall as the market index changes, so your Graduate School Loan payments may vary over time.

More about variable rates VLess about variable rates ^

Get a rate that may be less than a fixed interest rate, which could result in a lower total loan cost.


Fixed rate: 5.50% - 10.23% APR

Get predictable monthly payments with a rate that doesn’t change over time.

More about fixed rates VLess about fixed rates ^

You may pay more for your total loan cost because a fixed interest rate is usually higher than a starting variable interest rate.

Pay it back now or later

Pay later

Deferred repayment option: Make no payments while you’re in school and in grace (six months after leaving school).

In school & in grace After school No payments  Principal & interest  More about the deferred repayment option VLess about the deferred repayment option ^

With this Graduate School Loan repayment option, you'll likely pay more for your total student loan cost, since the interest rate may be higher and unpaid interest will be added to your principal amount at the end of your grace period.

Pay a little and save

Fixed repayment option: Pay $25 every month you’re in school and in grace, and you can save on your total loan cost when compared to our deferred repayment option.

In school & in grace After school $25 a month  Principal & interest  More about the fixed repayment option VLess about the fixed repayment option ^

Unpaid interest will be added to your principal amount at the end of your grace period.

Pay interest and save even more

Interest repayment option: Pay your Graduate School Loan interest every month you're in school and in grace. Your interest rate will be 0.50 percentage points lower than with the deferred repayment option and 0.25 percentage points lower than with the fixed repayment option.

In school & in grace After school Pay interest monthly  Principal & interest  More about the interest repayment option VLess about the interest repayment option ^

Your total loan cost will likely be lower than with the other repayment options, but your Graduate School Loan payments will likely be larger while you’re in school and in grace.

Benefit from these features

Save time with a streamlined application and get the money you need year after year with our Multi-Year Advantage.

Lower your total loan cost—get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.

Pay no origination fee or penalty for paying off your Graduate School Loan before its due date.

Get the shortest cosigner release qualification period in the industry. You can apply to release your cosigner after you graduate, make 12 on-time, principal and interest payments and meet certain credit requirements.

Pay for all your school-certified graduate school costs with a single, established lender.

The Graduate School Loan vs the Federal Direct Grad PLUS Loan

The Sallie Mae Graduate School Loan can be a good alternative to the Federal Direct Grad PLUS Loan, and if you’re highly qualified, you may receive a lower interest rate.

  Sallie Mae Graduate School Loan Direct Grad PLUS Loan

No origination fee

 

Available for less than half-time enrollment

 

Offers variable interest rates

 

Offers fixed interest rates

6-month grace period

Deferred repayment option

Interest and fixed repayment options

 

Rate reduction for auto debit enrollment


Find flexibility with an internship or fellowship deferment

A deferment may help you postpone or reduce your Graduate School Loan payments during your internship or fellowship. It’s available in increments of 12 months, up to a total of 48 months.

Find out about an internship or fellowship deferment

Applying is easy

1

Provide some basic info

Give some details about yourself and your school.

2

Choose your options

After you're approved, pick the repayment option and interest rate type that will suit your budget and timeframe.

3

Accept your loan

Review, sign and accept your loan documentation. We'll take care of the rest with your school.


Apply for this loan

Questions? Need help applying?

Call us at 877-279-7172

Didn’t find what you were looking for? See all graduate student loans.

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

This information is for graduate students attending participating degree-granting schools. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Interest is charged throughout the life of the loan—beginning with disbursement, during school, through any grace/separation period, and ending when the loan is paid in full. 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. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

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.

You must apply for a new loan each school year. This approval percentage is based on students with a Sallie Mae graduate loan in the 2017/18 school year who were approved when they returned in 2018/19. It does not include the denied applications of students who were ultimately approved in 2018/19.

To apply for this deferment, customers and an official from the internship, clerkship, fellowship, or residency program must complete and submit a deferment form to us for consideration. If approved, the loan will revert back to the same repayment option that applied during the in-school period for up to 12 months. Customers can apply for and receive a maximum of four 12-month deferment periods. Interest is charged during the deferment period and Unpaid Interest may be added to the Current Principal at the end of each deferment period, which will increase the Total Loan Cost.

This repayment example is based on a typical Graduate School Loan made to a first-year graduate borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 9.11% fixed APR. It works out to 27 payments of $25.00, 179 payments of $116.19 and one payment of $57.89, for a Total Loan Cost of $21,530.90.

Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

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 and may be suspended during periods of forbearance or deferment, if available for the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review 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.

Explore federal loans and compare to ensure you understand the terms and features. Sallie Mae loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income.

Federal student loan information was gathered in May 2019 from studentaid.ed.gov and a May 23, 2019 Electronic Announcement from Federal Student Aid, an office of the U.S. Department of Education.

Sallie Mae loans are made by Sallie Mae Bank.

Information advertised valid as of 6/25/2020.

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.