Sallie Mae® Smart Option Student Loan® for Undergraduate Students

Sallie Mae Student Loans

When grants, scholarships, and federal aid are not enough, choose the Smart Option Student Loan® for Undergraduate Students. You can apply for the money you need for college, and the flexibility you want.

Apply for the Sallie Mae® Smart Option Student Loan® for Undergraduate Students

Benefits

Choose the #1 Private Student Loan Lender in the Nation. Sallie Mae is trusted by more families than any other private student loan lender.
Variable Rates: 4.54% APR - 14.71% APR. Fixed Rates: 3.49% APR - 15.99% APR. Lowest rates shown include 0.25 percentage point interest rate discount with auto debit payments.¹
Applying online is easy - you could receive a credit result in about 10 minutes.²
Multiple repayment options from in-school payments to deferred.¹ No origination fee or prepayment penalty²
Last year, Students were 4X more likely to be approved for a Sallie Mae student loan with a cosigner.³
Borrow up to 100% of school-certified expenses, whether you're online or on campus⁴

Eligibility

Student is attending full-time, half-time, or less than half-time, including summer term or winter term.
Student is enrolled in certificate programs, professional training, or online courses.
Student is a U.S. citizens or U.S. permanent resident.
Non-U.S. citizen students residing in and attending school in the U.S., including DACA students, applying with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and an unexpired government-issued photo ID to verify identity.

Apply for a Sallie Mae Private Student Loan

Fixed APR 3.49% - 15.99%¹

Variable APR 4.54% - 14.71%¹

Cosigner Recommended

Apply Now

Featured Lender

Choose the #1 Private Student Loan Lender in the Nation. Sallie Mae is trusted by more families than any other private student loan lender.
Applying online is easy - you could receive a credit result in about 10 minutes.²

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 make sure 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.

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

¹Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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. It may be suspended during forbearance or deferment.

²Although 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.

³Based on a comparison of the percentage of students who were approved for any Sallie Mae loan with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.

⁴For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

Information advertised valid as of 05/16/2025.

Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

© 2025 Sallie Mae Bank. Sallie Mae loans are made by Sallie Mae Bank. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America. W646400 0325

A Cosigner May Help You Qualify

Borrowers may have a better chance of approval by applying with a credit worthy cosigner.

Features

Applying is fast and easy
No prepayment penalty²
24/7 online account management

Apply for the Sallie Mae® Smart Option Student Loan® for Undergraduate Students

Graduate School Loans

Are you going to Graduate School? Sallie Mae offers a Suite of graduate school products. Visit SallieMae.com to learn more about our graduate loans, including the MBA Loan, Sallie Mae Dental School Loan, Law School Loan, Sallie Mae Medical School Loan, and the Graduate School Loan for Health Professions.

Disclaimers

Borrow Responsibly

Information advertised valid as of 05/16/2025.

Edvisors is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America. W646400 0325