Sallie Mae Student Loans
Sallie Mae Student Loans
in Private Student Loans from Sallie Mae

Sallie Mae Student Loans

in Private Student Loans from Sallie Mae
SuperMoney Net Recommendation Score -56  


This product is strongly not recommended by SuperMoney users with a score of -56, equating to 1.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

0 users recommend
4 users are unsure
5 users don't recommend
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Ascent - Cosigned 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).

Sallie Mae Student Loans FAQ

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
Sallie Mae Student Loans Disclosure: The lowest rate is available only to the most qualified borrowers. Actual loan pricing is based on creditworthiness factors evaluated during the application process. Fixed interest rates and the deferred repayment option are only available to borrowers attending degree-granting institutions. Your actual interest rate will be based on creditworthiness and other factors as determined during the application process. This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. 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. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school and during your six-month separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised APRs assume a $10,000 loan to a freshman with no other Sallie Mae loans. Payments may be required during grace period depending on repayment option selected. Cosigner is required if the borrower does not meet the age of majority in their state or is not a U.S. citizen or U.S. permanent resident. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. RATES AND OTHER INFORMATION ADVERTISED ARE VALID AS OF FEBRUARY 26, 2018. VARIABLE RATES MAY GO UP OR DOWN DUE TO AN INCREASE OR DECREASE IN THE LOAN'S INDEX. SALLIE MAE ALSO 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.
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Message From Sallie Mae

Sallie Mae, is the nation's leading saving, planning and paying for college company. We have made a difference in students' and families' lives, helping more than 35 million Americans pay for college. There is no single way to achieve this task, so we provide a range of products to help families, whether college is a long way off or right around the corner. Our employees, products and information all promote responsible financial habits that help our customers make college happen.

Message From Our Editor

What We Love About Sallie Mae Student Loans

Sallie Mae has many types of loans that can help a wide range of students and situations. The application is all online, making it extremely convenient. It doesn’t charge any origination fees or prepayment penalties, which is also helpful.

In addition to student loans, it also offers the Study Starter benefit, which provides students with a free trial of tutoring and study services aimed to help support students in their studies. Furthermore, the website is chock full of information on financing college, planning, and preparing, and resources for finding other types of funding, like scholarships and financial aid.

What Can Sallie Mae Student Loans Do Better

The downside is that there will be payment penalties if you fall behind on your repayments, and interest will continue to accrue. While the company does have forbearance options, which allow you to pause payments for three months at a time for a total of 12 months throughout your loan, interest still accrues during that period. The interest is added to the principal of your loan afterward.

The bottom line is that they offer reasonable interest rates, but, like any other type of loan, you will want to run the numbers to find out if the payments are reasonable for you while in school and afterward.

Sallie Mae Student Loans Backstory

Sallie Mae is a consumer banking company that provides student loans in the U.S. It has helped millions of American students get the funding they need. 

In fact, it is the nation’s leading provider of education funding. While Sallie Mae originally provided federally guaranteed loans on behalf of the U.S. Department of Education, it now exclusively offers private student loans.

The Verdict

Sallie Mae is a leading provider of private student loans that you should consider when financing your education. However, it is far from the only option available. Before committing to any lender, you should compare the rates, fees, and terms available. 


Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Sallie Mae


  Available in 50 states and Washington, D.C.
  • 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
Cosigner Optional
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Verification Documents Required
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Identity
Credit Bureau Reporting TransUnion
Loan Term 5 - 20 years
Up to Cost of Attendance
Fixed APR 3.5% - 12.6%
Variable APR 1.13% - 11.23%
Loan Amount Starting at $1,000

Sallie Mae Student Loans Community Reviews


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This product is strongly not recommended by SuperMoney users with a score of -56, equating to 1.9 on a 5 point rating scale.


Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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