What happens when I’m approved for a student loan?

FAQ » , » What happens when I’m approved for a student loan?

Congratulations! Once you have applied for you student loan and received approval, it is up to you to accept the loan or decline it. Sallie Mae will provide you with details for you to review and the ability to select a repayment option should you accept the terms of your loan.

On your screen (example below) you will see specific rates and terms that are offered to you based on your credit, cosigner, etc. You have the advantage of reviewing details of multiple loan term options (length of loan) so you can compare interest rates, monthly payments, and total loan cost. This will help you make the best decision for you as you move forward in your training and career.

Sallie Mae Sample Loan Approval

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