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Parent Loan

Taking On a Loan for Your Student

Graduating student hugs his family after graduation, after a Parent Loan helped pay for college

Parent Loan℠ for First Source by Sallie Mae®

As a parent helping your child pay for college, a loan in your name helps you give the gift of college to your student, relieving them of the financial responsibility. Any creditworthy individuals, including parents, grandparents, aunts, uncles, spouses, and guardians, can help a student achieve their dream of college.

The Parent Loan offers competitive interest rates, and the flexibility of two repayment options.

This loan can help your student pay for college expenses not covered by scholarships and federal loans.

  • No origination fee and no prepayment penalty 

  • Benefits including an interest rate reduction available 

  • 100% U.S.-based student loan specialists 

Note: Students aren’t eligible to be a borrower or cosigner for the Sallie Mae Parent Loan. Borrowers, cosigners, and students must be U.S. citizens or U.S. permanent resident aliens. 

Learn more about the Parent Loan or apply:

Start the Application Process

Not sure how much you need?

Check out our helpful calculator.

Student Loan Comparison Calculator

Borrow Responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

These loans are made by Sallie Mae Bank or a lender partner. First Source FCU is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

This information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower, and cosigner (if applicable) would still be responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. 


© 2019 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

*Federally insured by NCUA. Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change.