Sallie Mae’s new loans allow medical and dental students to cover up to 100% of school-certified costs including tuition, supplies and living expenses, with no application or origination fees and competitive interest rates. The program includes prequalification that does not impact credit scores and dedicated U.S.-based servicing support.

Borrowers can choose to defer payments, make interest-only payments or pay a fixed amount each month during enrollment and grace periods. Eligible medical students receive a combined 96-month grace period (48 months during school and 48 months of residency), while dental students have a 12-month post-graduation grace period plus up to 48 months of residency deferment.

By expanding its graduate loan portfolio, Sallie Mae aims to grow origination volume in the advanced education segment and strengthen its position in private student lending. Flexible terms and extended grace periods may attract more healthcare students, potentially boosting fee income and net interest margin over the coming years.