|
The interest rate for Parent PLUS loans first disbursed on or after July 1, 2006 is fixed at 8.5%. |
The Signature Student Loan features interest rates that reward good credit.
The interest rates is based on the one-month London Interbank Offered Rate (LIBOR) plus a margin depending on your and/or any cosigner’s credit history.
Interest rates are variable and reset monthly. |
Interest rates that reward good credit.
The interest rate is based on the one-month London Interbank Offered Rate (LIBOR) plus a margin depending on your and/or any cosigner's credit history.
Interest rates are variable and reset monthly. |
|
Up to 4%: a 3% federal origination fee and a 1% federal default fee. |
Loan fees are 0%–6% |
2%–5% loan fees |
| Borrow up to the full cost of your dependent, undergraduate child's education less other aid received. |
Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received.* |
No aggregate loan limit. |
|
Starts within 60 days after final disbursement of the loan.
You may postpone repayment while the beneficiary student remains enrolled at least half time and for an additional six months afterward. |
No payments are required while in school.1
Several repayment options are available, including standard, interest-only and extended repayment.
Consider making interest payments while you are in school to lower the amount you must pay back.
Prepay your loan at any time without penalty.
|
Flexible repayment options determine first payment.
|
*Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.
1 Deferring payments while in school will increase overall loan costs. Unpaid interest that accrues while you are in school will be capitalized (added to your loan amount) at repayment.
2 Maximum loan amount and loan availability varies by school. Tuition Answer Loan proceeds are solely to pay for a student’s qualified higher education expenses, as described in Section 221 (d)(2) of the Internal Revenue Code of 1986, 26 U.S.C. Section 221 (d)(2), at an eligible educational institution. The expenses considered “qualified higher education expenses” may vary from school to school and may affect a student’s ability to qualify for a school’s financial aid program. Students seeking federal financial assistance should seek that assistance first, and then use the Tuition Answer Loan, and any other private loan proceeds, for any remaining financial need gap and, if necessary, to finance their expected family contribution (EFC).
3 Deferring payments while in school will increase overall loan costs. Deferment ends either four-and-a-half years after the disbursement date or six months after the student graduates, whichever is earlier. Unpaid interest that accrues while you are in school will be capitalized (added to your loan amount) quarterly and when the loan enters repayment.
Signature Student Loans and Tuition Answer Loans are funded by Sallie Mae Bank® or a Sallie Mae lender partner. Terms and conditions apply.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS.
Sallie Mae, Sallie Mae Bank, Tuition Answer and Signature Student Loans are registered service marks of Sallie Mae, Inc.