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When grants, scholarships, and federal aid are not enough, choose the Smart Option Student Loan® for Undergraduate Students. You can apply for the money you need for college, and the flexibility you want.

Apply for the Sallie Mae® Smart Option Student Loan® for Undergraduate Students

Benefits

  • Competitive variable rate starting from 1.13% APR to 11.23% APR and fixed rate starting from 3.50% APR to 12.60% APR. Lowest rates shown include the auto debit discount.1
  • No origination fee or prepayment penalty2
  • Easy online application accessible on all devices
  • Get a 0.25 percentage point interest rate reduction while enrolled in and making monthly payments by automatic debit1
  • You can apply for the funds you need to cover all your school-certified expenses for the entire school year including tuition, fees, books, supplies, housing, meals, travel, and even a laptop whether you're studying online or on campus3
  • Applying with a cosigner may help you get a better rate
  • The only undergraduate student loan that offers 4 months of Chegg® study help4

Apply for a Sallie Mae Private Student Loan

Recommendation
Best for Private Loans
Interest Rates

Variable Rates: 1.13% APR - 11.23% APR1

Fixed Rates: 3.50% APR - 12.60% APR1

Repayment Terms

N/A

A Cosigner May Help You Qualify

Borrowers may have a better chance of approval by applying with a credit worthy cosigner.

Features

  • Applying is fast and easy
  • No prepayment penalty2
  • 24/7 online account management

Apply for the Sallie Mae® Smart Option Student Loan® for Undergraduate Students

Graduate School Loans

Are you going to Graduate School? Sallie Mae offers a Suite of graduate school products. Visit SallieMae.com to learn more about our graduate loans, including the MBA Loan, Sallie Mae Dental School Loan, Law School Loan, Sallie Mae Medical School Loan, and the Graduate School Loan for Health Professions.

Borrow Responsibly

We 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.


Disclaimers

This loan is for undergraduate students at participating degree-granting schools. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1Interest 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 freshman with no other Sallie Mae loans. 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, if available for the loan.

2Although we do 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.

3Loan 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. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.

4This promotional benefit is provided at no cost to borrowers with new loans that disburse between May 1, 2021 and April 30, 2022. Borrowers are not eligible to activate the benefit until July 1, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Study® offers expert Q&A where students can submit up to 20 questions per month. No cash value. Terms and Conditions apply. Please visit http://www.chegg.com/legal/smtermsandconditions for complete details. This offer expires one year after issuance.

Information advertised valid as of 7/22/2021

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

Sallie Mae loans are made by Sallie Mae Bank.

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

© 2021 Sallie Mae Bank. All rights reserved. SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.