Sallie Mae® Student Loans

Featured Loan: The Smart Option Student Loan®

Sallie Mae Student Loans

Get the money you need to help make higher education happen

Student loans for eStudentLoan by Sallie Mae®

For borrowers attending or borrowing for a student attending a degree-granting institution

Calling all college students & their parents…Still need money or college expenses? For student borrowers who are attending accredited degree granting higher education institutions, the Smart Option Student Loan® by Sallie Mae® might be a great option for you! Sallie Mae® Student Loans could help cover college expenses not covered by scholarhsips and federal loans.

Whether you’re an undergraduate student, graduate student, or parent helping a student pay for school, these flexible loans are designed to meet your needs:

  1. Competitive variable and fixed interest rates
  2. No origination fee or prepayment penalty1
  3. Multiple repayment options

Learn which loan is right for you >>


Smart Option Student Loan® for Undergraduate Students
Pay for your bachelor’s, associate’s, or certificate expenses at a degree-granting school


Graduate School Loan
Pay for expenses as you pursue your master’s and doctoral degrees

MBA Loan
Pay for your business school expenses as you pursue your Masters of Business Administration degree

Medical School Loan
Pay for your medical degree expenses in allopathic, general, osteopathic, podiatric, radiology, sports, and veterinary medicine

Dental School Loan
Pay for your dental degree expenses in general dentistry, endodontics, oral and maxillofacial surgery, orthodontics, pediatric dentistry, periodontics, and prosthodontics

Health Professions Graduate Loan
Pay for your health professions degree expenses in allied health, nursing, pharmacy, and other graduate-level health programs

Law School Loan
Pay for your school and associated expenses as you study for your law degree


Parent Loan
Help your student by taking responsibility with a loan in your name

Learn which loan is right for you >>

Loan Features & Benefits

  • Interest rate reduction - Lower your total loan cost - get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit2
  • Flexible amount - Students can borrow up to 100% of the school-certified cost of attendance3
  • 24/7 loan management - Students can check details of their account online at any time
  • No early payoff penalty - Loans may be prepaid at any time without penalty
  • No origination fees - And no prepayment penalty1
  • Apply with a cosigner - If a parent or other creditworthy individual cosigns the loan ith you, it may give you a better chance of approval.
  • Cover an existing balance for an enrollment period within the past 365 days.4

The application process is simple. It only takes about 15 minutes to apply online and get a credit result. Either a student or a cosigner can initiate a new loan application; applicants will be shown repayment options, interest rate types, and estimated monthly payment amounts after credit approval.

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.


These loans are made by Sallie Mae Bank or a lender partner. EStudentLoan is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Smart Option Student Loan and graduate loan products: This information is for borrowers attending degree-granting institutions only. Smart Option Student Loan information is for undergraduate borrowers 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. 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. For the Dental School Loan, Law School Loan, MBA Loan, and Medical School Loan, students must be enrolling in a graduate-level degree program in a field of study that is eligible for the loan and Graduate Certificate/Continuing Education coursework is not eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Parent Loan: This information is for borrowers with students attending degree-granting institutions only. The student is not eligible to be a borrower or cosigner and must be attending or have attended a participating school during an eligible prior enrollment period, or be enrolled in an eligible study abroad program. The borrower, cosigner and student must be U.S. citizens or permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount to Sallie Mae. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Although we do not charge you 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.

2. 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.

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

4. 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 borrower must be enrolled, intending to enroll, or have graduated. The borrower 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.


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