
Sallie Mae Student Loans
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Community Rating | Strongly not recommended |
Loan Amount | Starting at $1,000 |
Fixed APR | 3.5% - 12.6% |
Variable APR | 1.13% - 11.23% |
Number of Reviews | 9 |
Sallie Mae Student Loans Review
Sallie Mae Student Loans is offered by Sallie Mae, a direct lender founded in 1972 and based in Newark, DE. Sallie Mae Student Loans is available in 50 states (and Washington, DC).
What rates does Sallie Mae Student Loans offer for in-school private student loan?
Sallie Mae Student Loans has a variable APR that ranges from 1.13% up to 11.23%.
It offers a fixed APR that ranges from 3.5% up to 12.6%.
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from Sallie Mae Student Loans?
Available loan amounts may vary by applicant but Sallie Mae Student Loans has a minimum loan amount of 1K
Does Sallie Mae Student Loans charge an origination fee?
No, Sallie Mae Student Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does Sallie Mae Student Loans charge prepayment fees?
No, Sallie Mae Student Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
What terms does Sallie Mae Student Loans offer?
Sallie Mae Student Loans provides repayment terms ranging from 5 to 20 years.
What type of borrowers will Sallie Mae Student Loans consider?
Sallie Mae Student Loans considers loans applications from:
- undergraduate students
- graduate students
- parents of students
What do you need to qualify for Sallie Mae Student Loans?
Sallie Mae Student Loans does not require or does not disclose a credit score minimum.Sallie Mae Student Loans does not have or does not disclose a minimum annual income eligibility requirement. Sallie Mae Student Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
U.S. citizens are, of course, eligible for the services offered by Sallie Mae Student Loans. Permanent resident / green card holders are also eligible to apply. An uncommon feature is for lenders to offer their services to non-residents. Sallie Mae is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
- Proof of citizenship or residence permit
Message From Sallie Mae
Message From Our Editor
Contact
- Headquarters
-
300 Continental Drive
Newark, DE 19806 - (800) 472-5543
- Visit Site
- Email Support
Other Services by Sallie Mae
Availability
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
No Interest Grace Period for Late Payment | 15 days |
No Origination Fee | |
No Prepayment Fee | |
Late Fee Amount | Up to $25 |
Sallie Mae Student Loans Community Reviews
Would you recommend Sallie Mae Student Loans to your friends?
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