To be eligible for a Sallie Mae loan you must be:
- A US citizen or eligible non-citizen
- Registered in an eligible bachelor’s, master’s, or PhD program. Certificate and diploma programs are not eligible.
- An undergraduate student registered in at least one course per funded term, OR
- A graduate student registered at least part-time in the Winter or Summer Session as well as in a thesis or other special project component.
Sallie Mae funding is an option for students in programs that aren't eligible for Direct Loan funding:
- Nursing and medical programs
- Co-op terms
- Studying abroad at non-title IV schools (see sidebar)
- Distance courses
Sallie Mae funding can also be helpful if your cost-of-living calculations are higher than your Direct Loan funding. This typically applies to independent undergraduate students or dependent students whose parents do not apply or qualify for Parent PLUS loans.
If you register in less than 6 credits per funded term, you may not be eligible for living costs.
Additionally, if your or your parents’ credit does not qualify for PLUS funding, Sallie Mae’s cosigner requirements allow other family members and friends to co-sign for you.