Sallie Mae Career Training Loan


How Do I Apply For A Sallie Mae Loan

Get Money to Pay for College | Sallie Mae® Smart Option Student Loan®

Its simple! You can find the application here. Just come prepared with the necessary information, including enrollment dates, school information, employment information, necessary loan amount, personal financial information, such as bank accounts, rent/mortgage information, etc., and contact information for two personal contacts.

Who Is Eligible For Private Student Loans

Federal and private student loans use different eligibility criteria. Federal student loans are offered by the government. You can fill out the FAFSA to determine eligibility.

  • For Subsidized Loans, the US Department of Education pays the interest while the student is in school at least half time, grace and authorized deferment periods.
  • For Unsubsidized Loans, the borrower is responsible for paying interest during the in-school or grace periods, or a post-school deferment.

Private student loans, offered by banks and financial institutions, are based on your creditworthiness. Your creditand your cosigners creditare evaluated, along with other information provided on your application. Applying for a private student loan with a creditworthy cosigner may increase your chances for approval and may help get you a better rate.

You should generally consider federal student loans first, and then take out a private student loan if you still need money for college.

Length Of Time For Loan Approval And Disbursement

The time between loan approval and loan disbursement can be lengthy. Once your loan is approved, Sallie Mae will send a certification request to your school. Many schools only certify requests within 30 days before enrollment begins. Even if you applied for a loan months in advance, you may not hear back about the funds you need until a few weeks before school begins.

Once the school certifies the request, Sallie Mae will disburse the funds directly to the school. Any extra money thats left over, known as a student loan refund, will be issued to you. They say the whole process can take as little as 10 days.

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Which Schools Make The Eligible List

We use a proprietary algorithm to continuously evaluate all accredited colleges and universities in the U.S. and Canada on factors like graduation rate, employment rate, and alumni earnings.

If you dont see a specific school, you can compare your eligibility for other student loans for international students here.

Sallie Mae Student Loans For Graduate Students

The Sallie Mae Smart Option Student Loan

Sallie Mae also offers a private student loan that is available to professionals and graduate students such as dental school, law college, medical in addition to MBA MBA students. Sallie Mae also provides distinct loans to dental and medical students who are entering their residency and law school students who want to study to take the bar examination in the umbrella of graduate student loans.

Sallie Mae touts its graduate student loan as an excellent alternative to the well-known PLUS loan for graduatesit is the federal student loan that is disbursed from the Department of Education mostly because it offers a higher interest as well as more flexible terms for repayment.

Similar to like the Smart Option Student Loan, Sallie Mae offers fixed-rate and variations with variable rates. The minimum loan amount is $1,000. The maximum amount is the total amount of the school-certified tuition.

Sallie Maes graduate rate varies by loan product . Theyre nevertheless comparable to undergraduate loan rates , and linked to the one-month Libor. For each borrower, precise rates will vary based on the lenders creditworthiness, repayment arrangements and co-signers status. There is no fee for disbursement, and loan terms usually are between five and 15 years.

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Frequently Asked Questions For Students

Q. My private career college has closed. What do I do now? A. When a private career college stops operating while students are enrolled in vocational programs, the Training Completion Assurance Fund helps provide eligible students with funding towards training completion, or full or partial refunds. The Superintendent of Private Career Colleges receives and assesses applications from affected students, and may provide support to those who are eligible depending on the amount of TCAF funding available.

Q. Am I eligible for a training completion or refund? A. Only fee-paying students who signed a contract and are enrolled in approved programs at registered private career colleges are eligible to receive training completions or refunds through TCAF. Students who were enrolled in programs that are not approved under the Private Career Colleges Act, 2005 and students who were funded completely by a third-party are not eligible for refunds or training completions.

Q. How do I find out more information? A. The Superintendent, along with ministry staff, may contact students by any appropriate method, and will rely on the contact information available at the affected private career college. Generally, the ministry contacts students by email.

If you have additional questions, contact the Private Career Colleges Branch at

Affected students are encouraged to contact the ministry at if you are unsure when you must submit your student claim form.

For more information:

Managing Your Private Student Loans

Starting with your first semester, itll be helpful to keep track of both your federal and private student loans. Here are some tips for managing student loans and debt:

  • You may apply for a new loan every year that youre a student.
  • You may need to be enrolled in school at least half-time.
  • Interest accrues on your student loan throughout the life of the loan. Making in-school payments may lower the total cost of your loan.
  • Once you leave school, whether you graduate or not, youll generally have a grace period of six months before you begin to make principal and interest payments.
  • As you continue to take out federal or private student loans throughout your years in college, keep a list of the lenders, how much youre borrowingand dont forget to borrow responsibly.
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    Higher Rates Of Interest On The Loan For Career Education

    While the interest rates on the undergraduate and graduate variants of Sallie Maes student loans compare favourably with similar loans offered by other lenders, including that of the Department of Education, the career-training version isnt doing much better.

    The current range of interest rates is higher than that of the identical Wells Fargo Student Loan for Career and Community Colleges by between 2% and 3%. However, the absence of an origination fee can make the differences. If you are in need of the money to finance vocational training you may want to find a different lender.

    Does Sallie Mae Require A Cosigner For International Students

    Student Loan Repayment Options | Sallie Mae Smart Option Student Loan®

    As an international student attending college in the United States, you may be wondering if you need a cosigner for your student loans. The answer is: it depends. Sallie Mae, one of the largest providers of student loans in the US, does not require a cosigner for most of its loans. However, there are a few exceptions. If you are an international student with an eligible cosigner who is a US citizen or permanent resident, you may be able to apply for a loan without a credit history. Additionally, if you are unable to provide proof of income, assets, or employment, you may also be required to have a co-signer.If you do need a co-signer for your loan, dont worry there are plenty of options available to you. You can ask family members or friends to cosign your loan, or use a service like Credible which can help connect you with potential co-signers. Remember that whoever cosigns your loan will be responsible for repaying the debt if you cannot so make sure to choose someone who is financially stable and willing to take on that responsibility.

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    What Is Sallie Mae

    Sallie Mae is one of the largest private student loan lenders in the country. Founded in 1972, Sallie Mae was once a government entity that distributed federal loans. It now only distributes private loans for students, including undergraduate and graduate students, technical and career training students, law school students, medical school students, parents of students, dental school students, and more.

    The Locations We Call Home

    At each of our offices, the people and the work they do drive the unique culture.

    Newark, DE

    Our headquarters sit just an hour outside Philadelphia, PA in Newark, DE. The largest of our offices, Newark is home to employees who work in credit, collections, risk, customer experience, product marketing, corporate marketing, human resources, and more. This group loves to get together to celebrate events and each otherand to help out in their communities.

    Indianapolis, IN

    Information technology and operations are the core of our growing Indianapolis office. Credit, collections, customer experience, and IT teams work together here in a fast-paced, collaborative environment.

    Salt Lake City, UT

    With the mountains in the background, our picturesque Salt Lake City office is home to employees who work in bank and retail deposits, accounting, administration, and more. At this smaller site, camaraderie is huge. The teams work together inside and outside the officecarving out time for volunteering and the outdoors.

    Newton, MA

    Our digital, brand, and creative hub sits just minutes outside of Boston, MA. Teamwork makes the dream work here. The brand, IT, and internal Creative Agency teams enjoy working in a laid-back environment thats all about innovation.

    Sterling, VA

    New Castle, DE

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    What Can Private College Loans Be Used For

    Whether you’re studying online or on campus, private school loansas well as federal student loansfor college and grad school can be used to pay for your education expenses, which for full-time and half-time students may include:

    • Computer for school

    Borrow what you need for the entire school year. Apply only once with a single credit check and funds will be sent directly to your college or university to cover each term as requested. You can cancel future disbursements as needed with no penalty. No additional interest is charged until money is sent to your school.

    Editorial Selection: Best For Student Support

    How to Pay off Private Student Loans from Sallie Mae, Navient and other ...
    • Student loans for undergraduates, graduates, and career training
    • Receive 1% cash back upon proof of graduation
    • Check your rate without impacting your credit

    Ascent offers cosigned and non-cosigned student loans, and is a great option for undergraduates and graduates to consider. If you dont have a good credit score, your own income, or a cosigner, Ascent also offers outcomes-based loans for upperclassmen.

    You can check your prequalified rates without affecting your credit score, and can even earn a 1% cash back reward on your loans upon graduation.

    Here are some details about Ascents undergraduate cosigned student loan:

    • Variable rates: 1.78% 9.37% APR
    • Fixed rates: 5.17% 13.21% APR
    • Loan amount: $2,001 $200,000

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    How To Apply For Trade School Loans

    If youre looking to get a student loan for trade school, there are a few important steps you should follow.

  • Fill out the FAFSA. The FAFSA, or Free Application for Federal Student Aid, is the first place you should start when youre seeking financial aid for educational expenses. This form, which needs to be completed annually, takes into account your school expenses and factors like family size and income. This information is used to determine your financial need and calculate your eligibility for certain grants and federal loans.
  • Accept federal aid options. Federal student loans offer fixed interest rates that are usually lower than what youd get with a private lender. They also come with certain benefits and features that private loans dont, making them the best first option when it comes to funding trade school.
  • Consider private student loans to fill the gaps. If your federal loans, grants, and scholarships dont cover all of your educational expenses, you may need to turn to private loans. These loans may have variable or fixed rates and require a creditworthy primary borrower or cosigner.
  • Compare terms and find a cosigner . Its wise to shop around before choosing a private loan to ensure that youre finding the lowest interest rate and best possible loan terms. Adding a creditworthy cosigner may open the door to additional loans and/or lower rates.
  • Private Student Loans For Technical School

    More often than not, Federal loans will not cover the full cost of a students tuition. Even students pursuing their education at a technical school or vocational school may find that Federal loans fall short of the mark. Students left with a sizable amount of unmet need after applying for their Federal loans may need to consider a private lender loan. Private, or alternative, loans play an integral part in helping students finance their college education. As helpful and important as they are, private lender loans are more difficult to secure than their Federal counterparts and generally come with higher interest rates and more stringent repayment terms. That being said, without private lender loans many students would be unable to afford to pursue their college education.

    The majority of private lender loans for college are designed for students attending a traditional four-year college or university. That is beginning to change, however, and more banks and private lending institutions are beginning to design loan packages specifically geared towards students pursuing career training at a technical school or two-year community college. Students looking for loans to help pay for technical school or vocational training may have to consult with a number of private lenders to find a suitable loan program.

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    What Is Sallie Mae Six Faqs About Sallie Mae And How To Use It For Technical Training

    May 4, 2021 in Centriq News, IT Career Program / by Elizabeth Granada

    If youve ever thought Who is Sallie Mae and what does she have to do with my student loans?, keep reading. Sallie Mae isnt a schoolgirl its a private loan provider that can help fund your education.

    Along with administering traditional private loans for students and parents, Sallie Mae also provides a specialized loan for students who wish to enroll in a not-so traditional education course, such as a technical school like Centriq Training. Learn more about our 4-month IT career training program here.

    If youre thinking about jumping off the diving board and into a new career, Sallie Mae can get you started. But what exactly is Sallie Mae, how can it help with living expenses during school, and what kind of loan do they offer for technical training? Find out below.

    Theoretically Uncapped Borrowing Ability

    Sallie Mae’s 1-2-3 Approach to Paying for College

    Unlike direct federal loans, all three of Sallie Maes student loan products offer uncapped borrowing ability up to the full cost of attendance, less any financial aid received. In theory, you could pay for the entirety of your undergraduate, graduate, or vocational education with these loans.

    Sallie Mae independently confirms your cost of attendance a figure that includes your tuition, room and board, and activity fees. And the company reserves the right to award less than 100% of that amount. But the fact that the company doesnt cap its disbursements gives its loans an advantage over its Department of Education counterparts, which have annual and aggregate borrowing limits for subsidized and unsubsidized loans to undergraduate and most graduate students.

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    Applying For Your Federal Loans

    Before applying for any Federal Direct Loan, students must fill out and submit their Free Application for Federal Student Aid. The FAFSA is used by the Department of Education to assess a students financial status, and to determine the levels of financial aid for which they are qualified. Every search for financial aid for college, whether at a technical school or four-year university, begins with the FAFSA.

    Apply For A Sallie Mae Student Loan

    Before applying for any private student loan, make sure you complete and submit the Free Application for Federal Student Aid . The FAFSA is what the government and most schools use to determine what financial aid youre eligible for, including grants and federal student loans.

    If you still need money to pay for school, you can then apply for a Sallie Mae student loan. To complete the online application, youll have to enter the following details about yourself:

    • Permanent Address
    • Social Security Number
    • School Information
    • Financial Aid and Scholarships
    • Employment Information
    • Financial Information
    • Name and Contact Information for Two Personal Contacts

    Once you submit your application, you could receive your results in as little as 15 minutes.

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    Editorial Selection: Best For Cosigners

    • Student loans for undergraduates, graduates, and career training
    • Cosigners can be released after 12 consecutive on-time monthly payments
    • Borrowers receive 4 free months of Chegg®

    As one of the biggest names in student loan funding, Sallie Mae offers a wide range of trusted loan products. Loans are available to undergraduates, graduate students, and even professional students while theyre studying for the bar exam or in a medical residency program.

    Cosigners are required for most student borrowers, but they can be released after just 12 consecutive on-time payments. Loan repayment options include in-school repayment, flat monthly payment, or full deferment. Sallie Mae offers an autopay discount on your interest rate.

    Here are some details about Sallie Maes undergraduate student loan:

    • Variables rates: 1.13% 11.23% APR
    • Fixed rates: 4.25% 12.59% APR
    • Loan amount: $1,000 100% of school-certified cost of attendance
    • Repayment terms: 5 15 years
    • Rate reduction: 0.25% discount when you sign up for autopay

    Sallie Mae Student Loans

    Hereâs one senator standing up to big banks. Now we just need 99 more ...

    Sallie Mae is a loan provider in the US, who offers private loans to US and Canadian students to cover their costs for their study period abroad.

    Leiden University application deadline: 1 April & 15 Oct / Loan application deadline: See SallieMae website
    Target group
    Bachelor, Master, Short Course, PhD
    Countries/ nationalities
    See Sallie Mae website
    Scholarship type
    Study, Research
    Archaeology, Humanities, Medicine/LUMC, Governance and Global Affairs, Law, Social and Behavioural Sciences, Science, Interfacultair Centrum voor Lerarenopleiding, Onderwijsontwikkeling en Nascholing , African Studies Centre, International Institute for Asian Studies

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