salliemae Signature Student Loan

Signature Student Loan

The Signature Student Loan is the most popular after-Stafford loan. If grants, scholarships, and Federal Stafford loans have not covered the total cost of your education, Signature Student loans can help.

Eligibility

• You must attend a community college or a four- or five-year college at least half time and be working toward your degree.
• You must meet credit criteria.
• You must be making progress toward a degree.

Benefits

• High approval rates.
• Cosigners help you qualify for a lower interest rate and can be removed from loan obligation after you make 24 on-time payments of principal and interest (you'll need to meet credit requirements).
• High aggregate loan limits so you can borrow as much as you need to pay for school.
• Easy online account management 24/7.
• Convenience of having all your student loans in one place and receiving one monthly bill when your Stafford loans are serviced by Sallie Mae.

Features

• Easy, secure online applications with immediate credit decision and electronic signature.
• No income requirement so you can focus on your studies.
• Cosigners help students get a lower interest rate and save a lot of money.
• Available for U.S. students in study abroad programs.
• Available to international students with an eligible cosigner.
• No payments are required while you are in school.

Loan terms

Aggregate loan limits

Community colleges

• $50,000

Four- and five-year colleges

• $100,000 for undergraduates.*
• $150,000 for graduate students.*
• $220,000 for graduate health disciplines.*

Need more? Just get a cosigner.

*Includes all student loan debt, federal and private.

Interest rate

• Interest rates are variable and based on the Prime Rate.
• Manage your credit well and get a low interest rate.
• Make interest payments during school so you have a lower amount to repay.

Fees

Usually 0%; a fee may be assessed depending on credit history.

Repayment

• Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
• Prepay your loan at any time without penalty.