Federal loans vs Private Loans For Students - Comparison

Private Student Loan Pricing | Sallie Mae


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We encourage students and households to begin with financial savings, grants, scholarships, and federal student loans to pay for faculty. Students and households ought to consider all anticipated month-to-month loan funds, and the way a lot the student expects to earn sooner or later, earlier than contemplating a personal student loan.


The borrower or cosigner should enroll in auto debit by Sallie Mae to obtain a 0.25 proportion level rate of interest discount profit. This profit applies solely throughout lively compensation for so long as the Current Amount Due or Designated Amount is efficiently withdrawn from the licensed bank account every month. It could also be suspended throughout forbearance or deferment, if accessible for the loan.

2 Smart Option Student Loan for Undergraduate Students, Sallie Mae Medical School Loan, Sallie Mae Dental School Loan, Sallie Mae MBA Loan, Sallie Mae Law School Loan, Graduate School Loan for Health Professions, and Sallie Mae Graduate School Loan:


Interest is charged beginning when funds are despatched to the college. With the Fixed and Deferred Repayment Options, the rate of interest is increased than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal on the finish of the grace/separation interval. Payments could also be required in the course of the grace/separation interval relying on the compensation choice chosen. Variable charges might improve over the lifetime of the loan. Advertised variable charges mirror the beginning vary of charges and should range outdoors of that vary over the lifetime of the loan. All Advertised APRs assume a $10,000 loan. Smart Option Student Loan APRs assume a freshman borrower with no different Sallie Mae loans. Medical School Loan and Dental School Loan APRs assume 4 years at school. Law School Loan APRs assume 3 years at school. MBA Loan, Graduate School Loan for Health Professions, and Graduate School Loan APRs assume 2 years at school.

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3 Sallie Mae Parent Loan:


APRs for the Principal and Interest Repayment Option could also be increased than APRs for the Interest Repayment Option. Variable charges might improve over the lifetime of the loan. Advertised variable charges mirror the beginning vary of charges and should range outdoors of that vary over the lifetime of the loan. APRs assume a $10,000 loan with a 4-year in-school interval.

4 Career Training Smart Option Student Loan:

Interest is charged beginning when funds are despatched to the college. With the Fixed Repayment Option, the rate of interest is increased than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal on the finish of the grace/separation interval. Payments are required in the course of the grace/separation interval primarily based on the compensation choice chosen. Variable charges might improve over the lifetime of the loan. Advertised variable charges mirror the beginning vary of charges and should range outdoors of that vary over the lifetime of the loan. Advertised APRs assume a $10,000 loan to a borrower whose deliberate time period for enrollment is roughly one educational 12 months with no different Sallie Mae loans.

5 Bar Study Loan:


Interest is charged beginning when the funds are despatched to you. Once principal and curiosity compensation begins, any Unpaid Interest can be added to Current Principal, growing the Total Loan Cost. Variable charges might improve over the lifetime of the loan. Advertised variable charges mirror the beginning vary of charges and should range outdoors of that vary over the lifetime of the loan. Advertised APRs assume a $15,000 loan disbursed on the time of the student’s commencement from faculty.

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6 Dental Residency and Relocation Loan and Medical Residency and Relocation Loan:


Interest is charged beginning when the funds are despatched to you. For those that graduate, the grace interval is 36 months. For those that withdrawal or whose attendance falls beneath half-time standing, the grace interval is 9 months. Once principal and curiosity compensation begins, any Unpaid Interest can be added to Current Principal, growing the Total Loan Cost. Variable charges might improve over the lifetime of the loan. Advertised variable charges mirror the beginning vary of charges and should range outdoors of that vary over the lifetime of the loan. Advertised APRs assume a $20,000 loan disbursed on the time of student’s commencement from faculty.


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Applications are topic to a requested minimal loan quantity of $1,000. Current credit and different eligibility standards apply. Sallie Mae loans are made by Sallie Mae Bank.