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BGSU accepts and works with all private non-federal alternative loan providers. Families are encouraged to explore their
options and find the loan that best meets their needs. We will process any alternative loan through any of the nation's 3,000+
providers. The Sallie Mae Signature Student Loan, described below, is only one of your alternative loan options.
This loan is designed to provide students and families with additional funding when all other sources of aid (including Federal
Stafford Loans) have been exhausted. This special loan program is serviced by the Sallie Mae Corporation and offered by the
originating lender Student Loan Funding.
The Sallie Mae Signature Signature Loan is a private education loan designed to provide additional funding to cover a BGSU
student’s cost of attendance as defined by the BGSU Student Financial Aid (SFA) Office. The interest rates can be as low as
LIBOR + 4.5% for those who qualify. Students can borrow up to the cost of attendance less all other financial aid received.
Any student who is enrolled for at least one credit hour in a degree granting or certificate program at BGSU may apply. See
the chart below for more details.
Sallie Mae’s website also offers debt management counseling and Manage Your Loans, a secure online account management tool to their Sallie Mae-serviced loans anytime and anyplace through http://www.salliemae.com/, should you need additional information on managing your loans.
To apply for a Sallie Mae Signature Student Loan, Sallie Mae offers a single application point for private loans. This fast and efficient online application fully automates
the loan origination process for borrowers and co-signers. Apply now by clicking the logo below.
Co-signers apply here
| Loan Program |
Sallie Mae Signature Student Loan |
| Loan Servicer |
Sallie Mae |
| Phone |
1-800-695-3317 |
| Borrower |
Student and/or creditworthy co-borrower |
| Eligibility of Borrower or Co-borrower |
- Student and/or co-borrower must pass a credit check; no minimum income and no debt-to-income ratio requirements for student
borrowers apply
- Student must be enrolled at least one credit in a degree granting or certificate program; less than half-time students do
not qualify for an in-school deferment
- International students may apply with a creditworthy US citizen or permanent resident co-borrower
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| Maximum Annual Loan Limits |
Cost of attendance less other aid received |
| Minimum Annual Loan Limit |
$500 |
| Aggregate Loan Limits (including all student loan debt, federal and private) |
- $100,000 for undergraduate students
- $150,000 for graduate students; includes undergrad debt
- None with a creditworthy co-signer
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| Interest Rate |
- Without co-signer: LIBOR + 4.5% to LIBOR + 12.75%
- With an eligible co-signer: LIBOR + 4.5% to LIBOR + 11.75%
- A .50 percentage point interest rate reduction with auto-debit
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| Loan Fees |
No Loan Fees |
| Grace Period |
6 months after student drops below half time status or graduates |
| Repayment terms |
- 15 year repayment, up to 25 years
- No pre-payment penalty
- Minimum monthly payment = $50
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| Borrower Benefits |
- Combined billing with all Sallie Mae serviced loans simplifies repayment
- Co-borrower release available upon borrower application after the first 24 payments are made as originally scheduled.
- Post-enrollment options for up to 12 months
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