Eligibility

• You must attend an eligible community college or a four- or five-year college at least half time and be working toward your degree.
• You must meet current credit criteria.

• Students must be making progress toward their degrees.

Benefits

• High approval rates.
• Creditworthy cosigners may help you qualify for a lower interest rate. Creditworthy borrowers may request a cosigner release from the loan obligation after making 24 consecutive on-time payments of principal and interest. The account must remain current until the request for release is processed. Borrower credit qualification applies.
• You can borrow as much as you need to pay for the cost of your education as certified by your school.
• Easy online account management 24/7.
• Convenience of having all your student loans in one place and receiving one monthly bill when your Stafford loans are serviced by Sallie Mae.

Features

• Easy online applications with fast credit decision and electronic signature.
• No minimum income requirement.
• Creditworthy cosigners may help students get a lower interest rate and save money.
• Available for U.S. students in study abroad programs.
• International students are eligible with a cosigner (who must be a U.S. citizen or permanent resident) and applicable CIS documents.
• No payments are required while you are in school.

Loan terms

Aggregate loan limits

Community colleges

• $50,000

Four- and five-year colleges

• $100,000 for undergraduates.*
• $150,000 for graduate students.*
• $220,000 for graduate health disciplines.*

Need more? Just get a cosigner.

*Includes all private student loan debt.

Interest rate

• Interest rates are variable and based on the one-month LIBOR rate.
• Manage your credit well and you may qualify for a lower interest rate.
• Make interest payments during school so you have a lower amount to repay.

Learn more about Interest rates.

Fees

Usually 0%; a fee may be assessed depending on credit history.

Learn more about Fees.

Repayment

• Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
• Prepay your loan at any time without penalty.