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Sallie Mae Graduate School LoanSM

For Graduate Students at Degree-Granting Institutions

Loan Servicer

Sallie Mae

Variable interest rates — 4.12% APR to 9.16% APR
Fixed interest rates — 6.25% APR to 9.16% APR

No origination fee and no prepayment penalty.

Pay now or later — choose an in-school repayment option that fits your needs or defer your payments until after school

  • Make interest payments each month
  • Pay $25 per month
  • Defer payments

Repayment term 15 years of principal and interest payments.

First interest capitalization (unpaid interest that’s added to the principal amount): For loans in good standing, unpaid interest will not capitalize until the end of the six—month grace period.

Special Features/Benefits:

  • Save with auto debit — There is a 0.25 percentage point interest rate reduction for enrolling in automatic debit.
  • Lower the interest rate: Graduate students who elect to make monthly interest payments while in school will receive an interest rate that is 0.50 percentage points lower than those who choose to defer making payments. This will result in savings for the borrower over the life of the loan.
  • Get free financial literacy tools and resources, including access to quarterly FICO® Credit Scores for both borrowers and cosigners.
  • Request a Graduated Repayment Period — which lets qualifying students make 12 monthly interest-only payments after finishing school.
  • Apply for a residency or internship deferment in 12-month increments; limited to a total of 48 months.
  • Get death and disability loan forgiveness.
  • Cover an existing balance for graduate school expenses during an enrollment period within the past 365 days.
  • Borrow up to 100% of the school-certified cost of attendance.

Graduate borrowers are four times more likely than undergraduates to be approved on their own. However, applying with a creditworthy cosigner may help the borrower qualify. Borrowers may apply to release their cosigner from the loan after they graduate, make 12 on-time principal and interest payments, and meet certain credit requirements. Releasing the cosigner will not adversely impact the rate on the loan.


  • This loan is available to students enrolled full-time, half-time, and less than half-time.
  • Students who are U.S. citizens or U.S. permanent residents are eligible, including those enrolled in eligible study-abroad programs or studying at select schools outside the U.S.
  • Non-U.S. citizen students (including DACA students) enrolled in an institution located in the U.S., are eligible to apply with a creditworthy cosigner who is a U.S. citizen or U.S. permanent resident and with required U.S. Citizenship and Immigration Service (USCIS) documentation.

Student or cosigner can initiate the application process at It only takes about 15 minutes to apply online and get a credit result. Students can apply up to 300 days prior to the start of the enrollment period.

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.

Explore federal loans and compare to ensure you understand the terms and features. Sallie Mae Graduate School 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.

This information is for borrowers attending degree-granting institutions only. You must be attending a participating school located in the U.S. or have attended one during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. Non-U.S. citizen students, including DACA students, will need to submit proper documentation to prove citizenship/identity; this can include an unexpired foreign passport, an unexpired student visa, an alien registration card, or an employment authorization document. All documentation must be unexpired at the time of the application, government-issued, and include a photograph. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest and your selected repayment option applies starting at disbursement, while in school and during your separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. 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 Sallie Mae Graduate School Loan to a first-year graduate.

This repayment example is based on a typical loan to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, a 0% disbursement fee, and a 8.03% variable APR. It works out to 27 payments of $25.00, 179 payments of $106.40 and one payment of $63.98, for a Total Loan Cost of $19,784.58. Variable rates may increase over the life of the loan.

Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction 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 therefore be suspended during a forbearance or deferment period.

Borrowers and cosigners who have an available FICO® Score and a Sallie Mae loan with a current balance greater than $0, may receive their score quarterly after the first disbursement of their loan. The FICO® Score provided to you is the FICO® Score 8 based on TransUnion data, and is the same score that Sallie Mae uses, along with other information, to manage your account. FICO® Scores and associated educational content are provided solely for your own non-commercial personal review, use and benefit. This benefit may change or end in the future. FICO® is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

Available for loans used to pay qualified higher education expenses at a degree-granting institution. Graduated Repayment Period (GRP) allows interest-only payments for 12 billing periods after principal and interest repayment begins. At the time of GRP request, the loan must be current (not past due). Customers may request GRP during the six billing periods before and the 12 billing periods immediately after the loan first enters principal and interest repayment. GRP does not extend the loan term. GRP increases the Total Loan Cost and monthly payments after the GRP will be higher than they would have been without it.

If at any time during the repayment period you enter an approved internship, clerkship, fellowship, or residency program you may contact us to request a deferment. To apply for this deferment, you must submit a form completed by you and an official from the approved program, to us for consideration. If you receive the deferment, the Current Amount Due you will be required to pay each month during the deferment period will reflect the same repayment option that applied to your loan during the in-school period. Deferment periods are issued in up to 12-month increments. You can receive a maximum of four 12-month deferment periods (48-month maximum). 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.

If a student dies or becomes permanently and totally disabled, Sallie Mae will waive all remaining payments on the loan.

If requesting a loan for a prior enrollment period, less than 365 days can pass from the end of the prior enrollment period to the time of the loan's first disbursement. At the time of the request, the student must be enrolled, intending to enroll, or have graduated. The student must have been enrolled during the prior enrollment period for which the loan is requested and must not have withdrawn with no intention of re-enrolling, as verified by the school. Prior enrollment period must also be in an eligible graduate field of study.

Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount.

Based on a comparison of approval rates for undergraduate and graduate borrowers of Sallie Mae student loans available during a rolling 12-month period from October 1, 2016 through September 30, 2017.

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: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.


Information advertised valid as of 8/27/2018.

Sallie Mae Graduate School Loans are made by Sallie Mae Bank or a lender partner.