Reviews (US)

Sallie Mae Student loans review

Check out if this lender is the right one to help you achieve your goals by reading the Sallie Mae Student loans review article. We will show you how it works and more!

Sallie Mae Student loans: designed to help you achieve your financial and educational goals!

Check out our Sallie Mae Student Loans review. Source: Sallie Mae.
Check out our Sallie Mae Student Loans review. Source: Sallie Mae.

It is not easy to find a lender that covers all school-certified expenses. Sallie Mae Student loans feature 100% coverage for tuition, fees, books, housing, meals, travel, and even the tools you need when in college, like a laptop. And you can learn all about it in this Sallie Mae Student loans review article!

So, it features discounts on rates if you include an auto-pay option to the repayment. Plus, the loan terms are flexible, ranging from 10 to 20 years.

And there are no origination or prepayment fees. 

Then, keep reading to learn how it works and how to get all the benefits when applying for a loan at Sallie Mae.

APR– Undergraduate student loans: 
variable rates: 1.13% APR – 11.23% APR
fixed rates: 3.50% APR – 12.60% APR
– Career training loans: 
variable rates: 4.12% APR – 11.52% APR
fixed rates: 6.62% APR – 13.83% APR
– Graduate student loans: 
rates vary by loan

(including auto-pay discount)
Loan PurposeEducation and career
Loan AmountsFrom $1,000
Credit NeededNot disclosed, but it recommends an average range of 300 to 850
TermsUndergraduate: 10 – 15 years
Graduate: 15 – 20 years
Origination FeeNone
Late Fee5% of the past due amount, up to $25;
up to $20 as returned check fee
Early Payoff PenaltyNone
Logo Sallie Mae fundo azul

How to apply for Sallie Mae Student loans?

Achieve your goals with the help of Sallie Mae Student loans! See how to apply for it and get the benefits.

How do the Sallie Mae Student loans work?

Sallie Mae features loans for undergraduate, graduate students, and people who seek career training. 

So, firstly, the undergraduate loan is a great deal for students earning a bachelor’s or associate’s degree or a certificate at a degree-granting school. Its rates vary from 1.13% variable APR to 11.23%. And from fixed 3.50% APR to 12.60%, including auto-pay discount.

Also, it offers a limited promotion in which you get four months of free Chegg study help, an advisor that answers your questions. 

Secondly, the graduate loan matches the needs of students seeking medical, dental, health professions, MBA, Law, and master’s/doctorate degrees.

Thirdly, the career training loan offers variable and fixed rates from 4.12% and 6.62%, respectively, including auto-pay discounts. It is an excellent choice for professional training or certificate courses at a non-degree-granting school.

Although it charges a late fee and returned check fee, there are no origination or prepayment fees.

In addition, the best of all is that it covers 100% school-certified expenses, with flexible terms.

Sallie Mae Student loans benefits

See what are the benefits of the Sallie Mae Student Loans. Source: Pexels.
See what are the benefits of the Sallie Mae Student Loans. Source: Pexels.

The main benefit offered by this lender is the 100% coverage of school-certified expenses, tuition, books, fees, housing, travel, meals, and everything you need to get your degree.

Even though it charges 5% of the past due amount, up to $25, as a late fee, and up to $20 as returned check fee, there are no origination or prepayment fees whatsoever.

Plus, it features loans designed for you from undergraduate and graduate student loans until career training.

Also, although it doesn’t offer a pre-qualification, it is a well reputable lender with great rates in customer service and affordability.

Pros

  • It offers 100% coverage of school-certified expenses;
  • It provides loans for a variety of programs;
  • Plus, it gives tools to help you through the process;
  • There are no origination or prepayment fees.

Cons

  • It charges a late fee;
  • It doesn’t disclose some information about eligibility requirements.

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Should you apply for Sallie Mae Student loans? 

If you look for an affordable lender with various programs covered, getting a loan at Sallie Mae might be an excellent choice for you.

Can anyone apply for a loan from Sallie Mae?

You can apply for a loan if you meet the requirements below:

  • Have a Social Security Number;
  • Have academic and complete school documentation; 
  • And have employment status.

However, Sallie Mae does not disclose the detailed eligibility requirements. 

What credit score do you need for Sallie Mae Student loans?

Unfortunately, it is not disclosed. But, they provide an average range of 300 to 850.

How to apply for a Sallie Mae Student loan?

If you are interested in finding out more about Sallie Mae Student loans, read out our next post and apply for a loan right away!

Logo Sallie Mae fundo azul

How to apply for Sallie Mae Student loans?

Achieve your goals with the help of Sallie Mae Student loans! See how to apply for it and get the benefits.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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