Sallie Mae Review 2026 | U.S. News
In-School Student Ratings
4.7
Lenders are rated using a calculated overall score based on affordability, eligibility, customer service and other factors. The highest scoring lenders were identified in each category. Ratings are prepared by U.S. News staff. Ratings have not been reviewed or approved by advertisers.
- People who need to cover up to 100% of school-certified expenses
- People who have a creditworthy cosigner
- People who seek loans for medical or dental residencies or for preparing for the bar exam
Sallie Mae student loan applicants must:
- Have a qualifying credit score (or have a cosigner who does)
- Be borrowing at least $1,000
- Be a U.S. citizen or permanent resident attending a qualifying school, if studying outside the United States
- Have a cosigner who is a U.S. citizen or permanent resident, if studying in the U.S. but not a U.S. citizen or permanent resident
Sallie Mae allows you to prequalify for a loan without pulling your credit information. It will check your credit when you formally apply.
The lender does not disclose its minimum credit score.
Sallie Mae is a publicly traded consumer bank that offers private student loans to pay for undergraduate, graduate and professional degrees, among other educational needs. Congress started Sallie Mae in 1972 as the Student Loan Marketing Association, a government-sponsored enterprise that serviced student loans. The lender went private in 2004 and today provides a range of student loan products. Additionally, Sallie Mae Bank offers savings products and other tools to help families plan and pay for college.
Sallie Mae offers several repayment options.
- Fixed repayment sets a monthly loan payment amount of $25 while you’re in school and during your grace period. After that, your loan payments will increase.
- Interest repayment is when you only pay interest while in school and during your grace period, after which you’ll begin paying monthly principal and interest.
- Deferred repayment lets you wait to make any payments until your grace period ends after you finish school.
- A graduated repayment period permits interest-only payments for a year after your grace period.
Borrowers experiencing financial difficulties are encouraged to contact Sallie Mae to discuss their options. Also, you can defer payment while in an internship, fellowship or residency program.
Sallie Mae has a “bad” rating on Trustpilot based on more than 60 reviews. The Consumer Financial Protection Bureau received 565 student-loan-related complaints in 2025 about SLM Corp., the holding company of Sallie Mae. Top complaints were about dealing with the lender or servicer and struggling to repay the loan. The company provided a timely response to all but two complaints; 482 complaints were closed with explanation, 68 were closed with nonmonetary relief and 15 were closed with monetary relief.
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