The Best Private Student Loan Rates for

Find Private Student Loan Options For Your School

Find Private Student Loan Options For Your School

Sallie Mae® has developed a wide range of private education loans, and other education-related services to help make students' dreams of higher education a reality.

  • APR: 4.15% - 15.70%1
  • Loan Types: Undergraduate
  • Loan Terms: 10 - 15 years2
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Why Get a Student Loan from Sallie Mae?

Students and families can invest in their education with private education loans designed to responsibly bridge the gap between personal resources and federal student aid.

Private education loans:

Sallie Mae is committed to serving their borrowers so they can successfully pay their loans and build their credit.

  • 100% U.S. based loan originations and loan servicing representatives
  • Financial literacy resources
  • 24/7 account self-service available online and by phone
  • Team dedicated to helping our borrowers in the military

Key features of Smart Option Student Loan® from Sallie Mae:

  • Competitive interest rates — variable rates start from 5.37% APR to 15.70% APR1 for undergraduate students (as of July 12, 2024). Lowest rates shown include the auto debit discount.
  • Pay now or later - Defer your payments until after school or choose an in-school repayment option that fits your needs.1
  • Discounts: Save with auto debit - get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.1
  • Detailed review of Sallie Mae Student Loans

Get the money you need for school from Sallie Mae

If savings, scholarships, and grants aren't enough to fully fund your college education, you might be considering taking out a private student loan. While you want to make sure that you're getting the beast deal possible, it's also important to ensure that you're working with a reputable lender.

Key Factors to consider when considering Private Student Loans:

  • Interest Rate
  • Repayment options & flexibility
  • Eligibility requirements

Only 8% of students get approved without a co-signer as most students have little income or no credit history.

Applying with a co-signer can greatly improve your chances of approval

Additional factors to consider when evaluating private student loan options:


Having a variety of payment plans to choose from means that you can select an option that will set you up for success. For example, if you're not able to make full payments while you're ion school, making interest-only payments until you graduate can prevent additional interest from accruing and inflating the size of your loan.


A grace period after graduation means that you're not obligated to start making full payments on your loan right away. A typical grace period is about six months after graduation or after your enrollment drops to half-time.


Few incoming college students have the credit history to qualify for a loan on their own. Most reputable lenders will allow you to release your cosigner from their obligation after you've established your own positive credit history and made a certain number on of-time payments. It's a great way to thank your cosigner for their help.


Many lenders offer reduced interest rates to qualified lenders. For example, signing up for autopay can often yield a discount of 0.25 percentage points. That quarter of a percent can save you a lot of money over the life of your loan.