Loans
Sallie Mae student loan review: is it worth it?
The Sallie Mae Student Loan is a great option for anyone looking for a low-rate loan. Check out how it can help you!
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Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.
Sallie Mae student loan review and benefits: great contracting conditions and 100% coverage
Do you need help to finish studying? You can then take out a student loan that doesn’t weigh you down. The Sallie Mae Student Loan is a very flexible option that caters to many students.
The Sallie Mae loan guarantees considerable discounts for those who opt for automatic payment. In addition, it can cover up to 100% of your studies. Check out more about this option.
| APR | Career Training Student Loans: 3.25% to 13.97% variable APR 3.75% to 14.08% fixed APR For undergraduate students: 3.25% to 13.59% variable APR 3.75% to 13.72% fixed APR Rates for graduate student loans vary depending on the loan |
| Loan Purpose | Funding for undergraduate, graduate, or technical career courses |
| Loan Amounts | $1,000 minimum and up to 100% of the school-certified cost of attendance |
| Credit Needed | Does not disclose |
| Origination Fee | None |
| Late Fee | N/A |
| Early Payoff Penalty | N/A |
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Sallie Mae student loan: how does it work?
The Sallie Mae Student Loan is the ideal option for those who need more specific fees depending on the undergraduate, technical or postgraduate course.
Therefore, the loans offered have different benefits depending on the category. Also, you can cover up to 100% of your studies.
Is it worth it to apply for the Sallie Mae student loan?
The Sallie Mae Student Loan has no origination fees and also allows for full coverage of studies.
In addition, it has fixed and variable APR rates based on the category of studies. You can attend a postgraduate, technical course, or undergraduate degree. Check out the benefits and disadvantages.
Benefits
- Discounts for automatic payment:
- Full coverage depends on the credit history of the student and the guarantor;
- Allows specific loans according to category;
- No origination fees.
Disadvantages
- In case of financial difficulty and late payment of the monthly reimbursement, the company does not offer to refinance.
What credit scores are required for the application?
The required credit level is not disclosed by the company. That is, you will only know after passing the qualification if you are eligible to apply for this loan.
However, you can get better rates if you have a higher credit score.
Sallie Mae student loan: applying for this loan today
Are you in need of financial help to complete your studies? Then Sallie Mae can help you. But for that, you need to understand the Sallie Mae student loan application.
This student loan option can cover up to 100% of your studies. If you opt for automatic payment, you can have reduced fees in addition to no extra fees. See how to apply today.
Apply online
You can easily apply for a student loan with Sallie Mae. All you need to do is to go to the official website and click on Get Started on the Student Loans page.
Then, you’ll be redirected to a page where you can provide the personal information required.
You can complete the application as a co-signer or as the student themselves. You’ll need to answer a few questions before completing the application, such as the purpose of the loan and the amount.
After all that, you can complete the application and wait for a response about your student loan!
Requirements
You’ll need to meet some requirements before you start the application process. For example, you need to be a student enrolled in one of the qualifying courses and graduations provided on the website.
Apply on the app
You can manage your student loan as a student or a cosigner through the official mobile app. However, you’ll need to follow the steps above to complete the application through the official website!
Sallie Mae student loan vs. Custom Choice student loan: which is the best for you?
If you don’t know about getting a student loan through Sallie Mae, we can give you a different opinion, such as the Custom Choice student loan. Check out our comparison table below to help you decide!
| Sallie Mae student loan | Custom Choice student loan | |
| APR* | Career Training Student Loans: 3.25% to 13.97% variable APR 3.75% to 14.08% fixed APR For undergraduate students: 3.25% to 13.59% variable APR 3.75% to 13.72% fixed APR Rates for graduate student loans vary depending on the loan | 2.67% to 11.55% variable APR; 3.65% to 12.47% fixed APR. *Terms apply. |
| Loan Purpose | Funding for undergraduate, graduate, or technical career courses | Undergraduate, graduate, or technical career courses. |
| Loan Amounts | $1,000 minimum and up to 100% of the school-certified cost of attendance | $1,000 up to 100% of the school-certified cost of attendance minus other aid, not to exceed $99,000. |
| Credit Needed | Does not disclose | 660 minimum |
| Origination Fee | None | N/A |
| Late Fee | N/A | None |
| Early Payoff Penalty | N/A | None |
And if you like the Custom Choice student loan features, check out our post below to learn about the application process for it!
Custom Choice student loan application
The Custom Choice student loan is super affordable due to low APR rates and late fees. Learn about the Custom Choice student loan application!
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