Student loans from Sallie Mae®

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Use Student Loans to Pay for College

Easy online student loan application with fast credit results and electronic signature (“eSign”) available for borrowers attending degree-granting institutions.

Apply for a Student Loan

Use the Sallie Mae Scholarship Finder tool to search for scholarships that may apply to you.

Scholarship Finder Tool

Sallie Mae Smart Option Student Loan^® for Undergraduates and the Sallie Mae^® Graduate School Loan Details

Variable Interest Rate	Initial rates range from 2.00% to 12.35% APR for undergraduate loans, and 2.50% to 12.22% APR for the Graduate School Loan. ¹ Lowest rates shown include the auto debit discount.²
Fixed Interest Rate	Range from 3.75% - 13.72% APR for undergraduate loans, and 4.25% - 12.92% APR for the Graduate School Loan. ¹ Lowest rates shown include the auto debit discount. ²
Collateral Requirements	Must be attending a degree-granting institution. Applying with a cosigner may help your chances of getting approved. Cosigning doesn’t need to be a lifelong commitment. You may apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments and meet certain credit requirements. Releasing the cosigner will not adversely impact the rate on your loan. ³
Loan Amount	Up to 100% of school-certified expenses. ⁴
Features	Deferred Repayment Option — Defer payments until after school, or pay as much as you want while in school.¹ Fixed Repayment Option — Pay a fixed amount every month while in school, and for six months after graduation. ¹ Interest Repayment Option — Make monthly interest payments while in school and for six months after graduation. Interest Rate Reduction — Receive a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit. ² Loan Forgiveness — In the event of a student’s death or permanent and total disability. No Prepayment Penalty ⁵

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Borrow Responsibly

Regions and Sallie Mae 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.

Sallie Mae Smart Option Student Loan® and Sallie Mae Graduate Student Loan Details

For Borrowers Attending Degree-Granting Institutions

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

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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. 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 loan to a borrower who attends school for 4 years and has no prior Sallie Mae loans. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.
The 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. It may be suspended during forbearance or deferment.
Only the borrower may apply for cosigner release. You must first meet the age of majority in your state and provide 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, you can’t have been past-due on any loans serviced by us for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. Additionally, you must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. You must also demonstrate that you can assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed 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.
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.
Although Sallie Mae does 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.

©2022 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered services marks of Sallie Mae Bank. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America. All other names and logos used are the trademarks or services marks of their respective owners.

Information advertised valid as of 6/27/2022.

Smart Option Student Loans and Sallie Mae Graduate Student Loan are made by Sallie Mae Bank or a lender partner (not Regions Bank). Regions Bank is a member FDIC.

Student loans from Sallie Mae®

Sallie Mae Smart Option Student Loan® for Undergraduates and the Sallie Mae® Graduate School Loan Details

More Resources

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Sallie Mae Smart Option Student Loan^® for Undergraduates and the Sallie Mae^® Graduate School Loan Details