Last Updated: 09/26/2025
SuperMoney User Recommendation Score -50
Mostly not recommended8 total votes
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Highlights
Community Rating
Mostly not recommended
Fixed APR
4.5% - 15.49%
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Variable APR
6.12% - 16.45%
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Amount Range
Starting at $1,000
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Number of Reviews
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 are 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 6.12% up to 16.45% .
It offers a fixed APR that ranges from 4.5% up to 15.49% .
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 10 to 15 years.
What type of borrowers will Sallie Mae Student Loans consider?
Sallie Mae Student Loans considers loans applications from:
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.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Sallie Mae Student Loans. 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
Is Sallie Mae a legit company?
Sallie Mae was founded in 1972, it is a well-established company that has been in business for 54 years. Sallie Mae Student Loans is mostly not recommended by SuperMoney community users.
Sallie Mae Student Loans Disclosure: Sallie Mae Disclosure
Rates:
Lowest rates shown include the auto debit discount: Additional information regarding the auto debit discount: Advertised 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. *These rates will be effective 06/25/2023.
Terms:
Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53, and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from Sallie Mae Student Loans
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
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly don't recommend this product, giving it a user recommendation score of -50, or 2 on a 5-point rating scale.
-50
-1000+100
No one recommends
Everyone recommends
Sallie Mae Student Loans Community Reviews
Would you recommend Sallie Mae Student Loans to your friends?
AG
Allyson G.
Mar 5, 2021
May or may not recommend
Sallie Mae offers great educational tools, calculators and comprehensive information about their products. They also have a scholarship program. The downside is that you need to understand the terms of your loan in advance of borrowing because they often lend to people with high interest rates if you don't have an exceptional credit profile.
ZW
Zoe W.
Feb 11, 2021
May or may not recommend
So I have been a customer of Sallie Mae for three years now. The application process to apply for student loans are very straightforward and it does not take me long to get approved. Their customer service team does a great job at answering questions and helping me when I have had issues. I will say that the interest rates can be very high. my first student loan was great ...Show More
Bella M.
Oct 25, 2020
May or may not recommend
I don’t recommend using Sallie Mae unless you absolutely have to. When you have a co-signer it is pretty easy to get approved, but the interest rates aren’t worth it. After graduating, the monthly payment are outrageous and they don’t have any kind of income based options.
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Alissa D.
Oct 12, 2020
May or may not recommend
Sallie Mae is a helpful loaning center as they provide students with the opportunity to go to college and be funded, especially if they have a co-signer. The interest rates are the biggest issue. While it's great that a student will be able to attend college, Sallie Mae takes advantage of the need and the loan grows and grows as the years go by. How many students graduate with a ...Show More
EC
Emily C.
Oct 10, 2020
May or may not recommend
I spent about 6 years total in college and every single time I tried to work with Sallie Mae for private student loans, I had such complications. Every time I would try to submit an application, there were hiccups along the way and I never did end up taking out a loan. This review is strictly based off of trying to get a loan with Sallie Mae and having little ...Show More
U
Anonymous
Jul 11, 2017
May or may not recommend
THis company is the worst loan company I have ever seen. Here are a few of the things I HATE about them: 1- HIgh variable interest rates only. I have excellent credit and co-signed on this loan for kid. They treat you like your stupid when you challenge how you could be paying 11% when the rest of the world is paying 6 %- there is no negotiation you can ...Show More
U
Anonymous
Aug 3, 2015
May or may not recommend
Sallie Mae is a familiar name in the financial world, so it's not a stretch that they would be offering student loans. You can be assured that you're dealing with a reputable company, but there are better student loans out there.
U
Anonymous
Aug 3, 2015
May or may not recommend
Sallie Mae loans allows you to borrow up to the actual cost of attendance at your school, with no origination fees and decent interest rates. But there is no protection for borrowers who lose their jobs or experience financial hardship.
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