Student Loans

We encourage students and families to start with savings, grants, scholarships and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan. 

Sallie Mae loans may be offered at a lower rate than PLUS to highly-qualified applicants with strong credit profiles. Explore federal loans and compare to make sure you understand the terms and features. Private student loans that have variable rates can go up over the life of the loan. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness and deferment benefits, which other student loans are not required to provide. Federal loans generally have origination fees, but are available to students regardless of income. 

¹Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note - first to Unpaid Fees and costs, then to Unpaid Interest and then to Current Principal.
²For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
³ A 0.50 percentage point interest rate reduction is applied to the loan only if the first 12 principal and interest payments are paid on time, or if an amount equal to the first 12 principal and interest payments is paid ahead. Although the benefit can be earned by paying ahead, it will not be activated until after the 12th principal and interest payment would have been due. Any period in which the loan is in a forbearance, deferment, or Graduated Repayment Period will not count toward satisfying the on-time principal and interest payment requirement. This benefit will be discontinued if the loan is refinanced or otherwise paid off with another loan.
⁴ The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. 

Information advertised valid as of June 25, 2026. 

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Sallie Mae loans are made by Sallie Mae Bank. Dollar Bank is not the creditor for these loans and is compensated by Sallie Mae for the referral of student loan customers. 

© 2026 Sallie Mae Bank. All rights reserved. Sallie Mae is a registered service mark of Sallie Mae Bank. Sallie Mae, the Sallie Mae logo and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

*We will accept student loan refinance applications from residents of Ohio, Pennsylvania and Virginia. 
**If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the margin will be reduced by 0.25%. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.