Variable rates:
to 11.76% APR
Fixed rates:
to 12.11% 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.
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.
for graduate students who return for their next loan with a cosigner through our Multi-Year Advantage.
during your internship and fellowship
your Graduate School Loan for Health Professions with no prepayment penalty.
to support you during the start of your career.
Tip for borrowers
You can apply only once and get the money you need for the entire school year. Funds will be sent for each term as requested by your school.
Your interest rate can rise or fall as the market index changes, so your Graduate School Loan for Health Professions payments may vary over time.
Get a rate that may be less than a fixed interest rate, which could result in a lower total loan cost.
Get predictable monthly payments with a rate that doesn’t change over time.
You may pay more for your total loan cost because a fixed interest rate is usually higher than a starting variable interest rate.
Pay later
Deferred repayment option: Make no payments while you’re in school and in grace (6 months after leaving school)
With this Graduate School Loan for Health Professions 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.
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 for Health Professions 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.
Your total loan cost will likely be lower than with the other repayment options, but your loan payments will likely be larger while you’re in school and in grace.
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 for Health Professions 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 health professions school costs with a single, established lender.
The Graduate School Loan for Health Professions 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 for Health Professions | Direct Grad PLUS Loan | |
|---|---|---|
No origination fee |
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Available for less than half-time enrollment |
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Offers variable interest rates |
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Offers fixed interest rates |
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6-month grace period |
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Deferred repayment option |
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Interest and fixed repayment options |
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Rate reduction for auto-debit enrollment |
A deferment may help you postpone or reduce your Graduate School Loan for Health Professions payments during your internship or fellowship. It’s available in increments of 12 months, up to a total of 48 months.
1
Give some details about yourself and your school.
2
After you’re approved, pick the repayment option and interest rate type that suits your budget and timeframe.
3
Review, sign and accept your loan documentation. We'll take care of the rest with your school.
Call us at
877-279-7172
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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 for Health Professions 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 school loan in the 2018/19 school year who were approved when they returned in 2019/20. It does not include the denied applications of students who were ultimately approved in 2019/20.
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 for Health Professions made to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.61% variable APR. It works out to 27 payments of $25.00, 179 payments of $141.23 and one payment of $25.40, for a Total Loan Cost of $25,980.57. Variable rates may increase over the life of the loan.
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. Private student 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 July 2020 from studentaid.ed.gov and a July 1, 2020 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 9/25/2020.
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.