Loans for undergrads
There are many different types of loans for undergraduate students. Learn about federal and private education loans so you can find the right student loan to help pay for your college. College graduates earn substantially more—on average $1.5 million more over the course of their careers—and have less unemployment than high school graduates. A college education is worth the investment. When savings, grants, and scholarships don't cover the cost of attendance, student loans can make up the difference.
Loans for parents
If you need money to pay for your child's college tuition, Sallie Mae has a variety of student loans for parents to help their children achieve their college dreams. Sending a child to college can be one of the biggest expenses your family incurs. Whether you will be assuming a portion of or the entire responsibility for financing your child's education, Sallie Mae wants you to have the information you need at your fingertips.
Loans for graduates
Wondering how to finance graduate school? You have more options than you may think. Sallie Mae offers loan programs to help graduate students fund their higher education. Begin your grad school career with Sallie Mae. Our borrowers enjoy a variety of repayment plans, low interest rates, and competitive fees.
Loans for training
If you are in a continuing education program to further your education or enhance your career, Sallie Mae can help with fast decisions and exceptional service. Finding affordable education financing is now easier than ever.
You can borrow from a minimum of $1,000 up to the total cost of your education less other aid received. That includes tuition and expenses such as books, fees, a computer, and living expenses with these loan programs:
- Career training loans school loan consolidation
- Continuing education loans
Understanding the process--Applying for a loan
No matter how much your family earns and how substantial your assets, you may qualify for an unsubsidized Federal Stafford Loan.
The many benefits of the Federal Stafford Loan program, including attractive interest rates and deferred payments, are yours for the asking. Your first step in applying for a federal student loan is to understand what’s involved. This section walks you through the process.
Calculating expected contribution
Based on the information you provide on your FAFSA, the government estimates how much your family can afford to spend on college costs, known as the Expected Family Contribution (EFC).
Reviewing your Student Aid Report (SAR)
The government sends you a SAR, summarizing the information you provided on the FAFSA and indicating your EFC.
Evaluating your award letters
If you've applied for financial aid at the schools where you've been accepted, you will find out how much financial support the school is offering by an award letter.