What score do I need for Sallie Mae?
Can you get a student loan with a 600 credit score
If you have a credit score in the mid-600s or below, a co-signer will be all but necessary. However, you can consider your options with bad-credit private student loan lenders. Just be ready to pay a much higher price.
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What GPA do you need for Sallie Mae
2.0 or higher
All students applying to a Federal loan program must have a minimum GPA (usually 2.0 or higher), they must be a U.S. Citizen or legal resident, they must fall within the required income bracket and they must be able to prove that they have not defaulted on any prior loans.
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What are Sallie Mae requirements
To apply online for a student loan with Sallie Mae, you'll need to share the following information and more: Basic personal information: Your name, address, and Social Security number. Financial information: Gross income, bank account balances, rent or mortgage payments, and total loan amount you're seeking.
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Can you get a Sallie Mae loan with a low GPA
Sallie Mae GPA requirements
Sallie Mae does not share any of its GPA requirements for current or prospective college students.
Does Sallie Mae do a hard credit check
You won't be able to decide your repayment term length — the company assigns you a repayment term. Sallie Mae will also have to generate a hard credit inquiry to give you an approval decision, which could negatively impact your credit score.
How good is Sallie Mae loans
Sallie Mae is a four-star lender based on NerdWallet's student loan rating system. Our ratings prioritize low interest rates and flexible repayment options that allow borrowers to repay loans faster and avoid default.
Is Sallie Mae hard to get approved for
Minimum credit score: mid-600's. Minimum income: No income minimum. Typical credit score of approved borrowers or co-signers: 749.
Who gets approved for Sallie Mae
Eligibility & application information
Eligibility for Sallie Mae student loans depends on the loan for which you are applying. But, generally, you or your cosigner needs to be a U.S. citizen or permanent resident who is enrolled at least half-time in a relevant program at a qualifying institution.
Is it hard to get approved for Sallie Mae
The average credit score for approved Sallie Mae borrowers is around 748 for undergraduate student loans. That's pretty high – but don't panic if your credit score is much lower than that. You'll need a minimum credit score (or have a cosigner with a minimum credit score) that is somewhere in the mid-600s.
Is Sallie Mae hard to get
Minimum credit score: mid-600's. Minimum income: No income minimum. Typical credit score of approved borrowers or co-signers: 749.
Does Sallie Mae accept everyone
Sallie Mae does not specify a minimum credit score requirement for its student loans. However, a strong credit score can improve your chances of approval for a loan or a better rate. If your credit score may not be good enough, you can get a co-signer with good credit to include on the loan.
Who is eligible for a Sallie Mae student loan
Eligibility & application information
Eligibility for Sallie Mae student loans depends on the loan for which you are applying. But, generally, you or your cosigner needs to be a U.S. citizen or permanent resident who is enrolled at least half-time in a relevant program at a qualifying institution.
Who is eligible for a Sallie Mae loan
Eligibility for Sallie Mae student loans depends on the loan for which you are applying. But, generally, you or your cosigner needs to be a U.S. citizen or permanent resident who is enrolled at least half-time in a relevant program at a qualifying institution.
Is it hard to get a Sallie Mae loan
Minimum credit score: mid-600's. Minimum income: No income minimum. Typical credit score of approved borrowers or co-signers: 749.
Is Sallie Mae credit based
To qualify for a student loan with Sallie Mae, you must have a credit score in the mid-600s. They're a good option for students seeking competitive interest rates with a creditworthy cosigner.
Does Sallie Mae do a hard or soft credit check
You won't be able to decide your repayment term length — the company assigns you a repayment term. Sallie Mae will also have to generate a hard credit inquiry to give you an approval decision, which could negatively impact your credit score.
Does Sallie Mae approve anyone
Minimum credit score: mid-600's. Minimum income: No income minimum. Typical credit score of approved borrowers or co-signers: 749.
What disqualifies you from student loans
You're not making satisfactory academic progress at your school. You've defaulted on an existing federal student loan. You owe a refund on any previous federal grants. You're enrolled in an academic program that makes you ineligible for funding.
How long do Sallie Mae loans take to get approved
It can take as few as 15 minutes to find out whether you've met their credit requirements. If the lender needs more information, the approval can take a few business days.
Can you get approved for Sallie Mae loan without cosigner
Sallie Mae does not require a cosigner if you meet certain criteria to qualify on your own: Student loan borrowers must be 18 years old at the time of application and a U.S. citizen or permanent resident of the country. Student loan borrowers must be enrolled at least part time in a college or university.