Do Sallimae Borrow For International Student Without Co-signer?

Choice Plus Savings

• Interest Repayment Option. Pay interest while in school and have a shorter repayment period after school and you can save over 20% ($5,000) on your total loan cost compared to our deferred repayment option1
• Fixed Repayment Option. Pay just $25 a month2 while in school and have a shorter repayment period after school and you can save over 10% ($2,000) on your total loan cost compared to our deferred repayment option1
• Deferred Repayment Option. Make no payments while in school—or pay as much as you'd like—for maximum flexibility8

Competitive Interest Rates

• Rates from LIBOR + 2.00% (2.25% APR) to 9.875% (9.37% APR)3
• No origination fees and no prepayment penalties9

Rewards for paying on time

• Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school with Interest or Fixed Repayment Options4
• Get a 0.25% percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit5

NEW! Tuition Insurance Benefit10

• Get peace of mind and security for your investment in higher education — exclusively with the Smart Option Student Loan.
• Sallie Mae's new Tuition Insurance Benefit covers up to $5,000 of tuition, room, board, and other fees that are not refunded by your school if you withdraw from school for covered medical reasons.
• Provided at no cost to the student with loans first disbursed between July 1 and October 31, 2011.

Get the money you need for school

• Borrow up to 100% of your school-certified costs of education (minimum $1,000)

Interest Rates

• Rates from LIBOR + 2.00% (2.25% APR) to 9.875% (9.37% APR)3
• 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments automatic debit5
• Apply with a creditworthy cosigner and you may receive a lower rate

Loan Limits

• Borrow up to 100% of your school certified costs of education (minimum $1,000)

Fees

• No origination fees for degree-granting institutions3
• No repayment fees

Repayment Terms

• Choose the repayment option that works for you while you are in school - defer all payments, pay just $25 a month, or pay interest
• Full principal and interest payments begin six months after you leave school for all repayment plans
• No prepayment penalty, regardless of the repayment plan you choose

Eligibility

• International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation.

  Applying with a creditworthy cosigner could help you get approved for the loan, and could substantially reduce your total loan cost. Choose a cosigner such as a family member with excellent credit history and the ability to repay the loan if necessary. A creditworthy cosigner can:

  • Help you qualify for your loan.
  • Provide the possibility of a lower interest rate.
  • Provide the potential for lower fees.

  Cosigning for a student loan is a big responsibility, but it doesn't have to continue for the entire duration. You can apply for a cosigner release once you've completed your education.6

  Cosigner checklist

  1. Social Security number.
  2. Personal reference(s).
  3. Monthly income.

Almost everything you do turns into more money for college.

• Join Upromise® for free, and earn rewards when you shop online, eat out, buy gas, and more
• Choose our Interest or Fixed Repayment Option, and earn a 2% Smart Reward® in your Upromise account when you make scheduled monthly payments on time while in school4
• Invite family and friends to join Upromise and help you earn even more

You can use your Upromise earnings several ways

• Help pay down eligible Sallie Mae student loans
• Transfer them to your High-Yield Savings Account by Sallie Mae® 7
• Request a check to pay for college or other expenses like books, food and more