Invest in your future with a student loan from the bank you trust.

Student aid, scholarships and grants don’t always cover the cost. That’s why M&T has loan options for your situation.

$1,000

Scholarship

Enter for a chance to win $1,000 to pay for education expenses with the M&T Bank Scholarship Sweepstakes!

SWEEPSTAKES: NO PURCHASE, ACCOUNT OPENING, LOAN APPLICATION, DEPOSIT OR PAYMENT IS NECESSARY TO ENTER OR WIN THIS SWEEPSTAKES, NOR WILL IT INCREASE YOUR CHANCE OF WINNING.  VOID WHERE PROHIBITED. Sweepstakes period is from 9:00 a.m. ET on May 17, 2021 through August 31, 2021 at 11:59:59 p.m. ET. You must be at least 18 years of age and be enrolled as a full-time or part-time (at least 6 hours) student at a post-secondary institution, including but not limited to junior colleges and vocational schools, during the 2021 calendar year. Only legal residents of CT, DC, DE, MD, NJ, NY, PA, VA, and WV are eligible. You may also enter by mailing a postcard with your first name, last name, full address, age, telephone number, email address (if any) and name and state of your post-secondary educational institution to: M&T Bank Scholarship Sweepstakes, P.O. Box 606, Owings Mills, MD  21117 (“Entry” or if plural, “Entries”). Mail-in entries must be received by the end of the Sweepstakes Period. Limit one Entry per person regardless of method. Additional restrictions may apply. 
Official Rules, including all eligibility requirements and restrictions, may be viewed here: M&T Bank Scholarship Sweepstakes Rules
Employees or contractors of Sponsor, MGH, Inc. (the “Administrator”), or their affiliates, advertising, promotion and fulfillment agencies (collectively, “Sweepstakes Entities”) and members of their immediate families or households are not eligible. Winners of any other M&T Bank contest or sweepstakes in the previous six-month period are ineligible.
SPONSOR: M&T Bank, One M&T Plaza, Buffalo, NY  14203-2399.
PRIVACY: Information collected from any entrant will be used only for statistical analysis and for purposes of the Sweepstakes (including, without limitation, the Prize drawings performed by the Administrator) and to notify and announce the Winners as set forth in these Official Rules.  Such information will not be reused, sold or shared in any other manner by Sponsor unless entrant has requested to receive additional information and promotional material from Sponsor (in which case, entrant can opt out of such communications at any time).  Sponsor’s privacy policy is available at https://www.mtb.com/help-center/policies/privacy-policy.  

No matter where you are in your student loan journey, we are here to offer competitive loan options, educational resources, and guidance when you need it most.

Features included with every loan to pay for school-certified expenses.

Rate Discount Available

Qualify for a .25 percentage point interest rate reduction when you enroll and make monthly payments with auto debit

The borrower or cosigner must enroll in auto debit through M&T Bank's servicer, Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during  forbearance or deferment, if available for the loan.

No Origination Fee

No origination fee or prepayment penalty

Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

Repayment Options

Choose the repayment option that’s best for you 

Explore student loans.

Tools and resources.

We're here to help you feel confident about your finances and focus on your future.

FINANCIAL EDUCATION CENTER

Money Mentor: The following content is provided by EVERFI, Inc, for educational purposes only. The information provided is not intended to provide investment, tax or legal advice and may contain information on products or services not available at M&T Bank and may describe practices or policies not available or applicable to M&T products. All examples are for illustrative purposes only. 

Financing Higher Education

Learn what to consider when financing higher education, preparing for graduation, and building a career.

Application Checklist

Before starting, we recommend you (and your cosigner, if applicable) have the following information handy:

  • Permanent address
  • Social Security numbers
  • School information
  • Academic period of enrollment
  • Requested loan amount
  • Financial aid and scholarships you expect to receive
  • Employment information
  • Financial information
  • Two personal contacts (other than your cosigner)
Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. M&T Bank reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
STUDENT RESOURCES

Paying for College Responsibly

Listen to our 1-2-3 approach to help you make more informed, responsible financial decisions for how to pay for college.
Read Article >
STUDENT RESOURCES

Decoding Financial Aid Offers

Six tips you should know before making the big decision.
Read Article >
STUDENT RESOURCES

Using grants and scholarships to pay for college

Grants and scholarships are two types of financial aid that don’t have to be paid back. So be sure to include them in your plan for paying for college.
Read Article >
STUDENT RESOURCES

Countdown to College

Stay on track: Your stress-free guide for applying to college.
Read Article >

M&T Student Loans

Further your education.

We’ve partnered with Sallie Mae® to provide superior loan
servicing and expertise on your student loan.

 

Got questions? We're here to help.

Private student loans are credit-based, which means we will check your credit when you submit your application. Applying for an M&T Bank Undergraduate Student Loan with a cosigner may help your chances for approval. A cosigner is someone who shares responsibility with you for paying back the loan and is often a parent, but can be any creditworthy adult who is a U.S. citizen or U.S. permanent resident.

Students can apply just once a year with a single credit check and funds are sent for each term directly to your school. You can cancel future disbursements as needed with no penalty. No additional interest is charged until money is sent to your school, so you can relax, knowing you've got the funds when you need them.

You can borrow to cover the costs at a degree-granting institution, even if you're not a full- or half-time student. The loan's flexibility makes it a good choice for many situations:

  • Attending school full-time, half-time, or less than half-time
  • Winter or Summer classes
  • Study abroad
  • Professional certification courses
  • A U.S. citizen or permanent resident enrolled in a school in a foreign country
  • Undergraduate & Graduate Loans: a non-U.S. citizen student, including DACA students, residing in and attending school in the U.S. (with a cosigner who is a U.S. citizen or U.S. permanent resident)

It takes about 15 minutes to apply and get a credit decision. If you’re approved, you choose your undergraduate student loan options, accept your loan disclosure, and the loan is certified by your school. We send (disburse) the funds directly to the school. The process can take as few as 10 business days from application to disbursement.

With the M&T Bank Undergraduate and Graduate Student Loans, you can select from three repayment options— you can choose to make payments while in school with monthly interest payments or with fixed $25 payments, or you can choose to defer payments until after school. No matter which option you choose, you have at least six months after you leave school (your grace period) before you begin to make principal and interest payments.

With the M&T Bank Parent Loan, borrowers can select from two repayment options — borrowers can choose to make monthly interest payments while the student is enrolled in school for up to 48 months, followed by monthly principal and interest payments for the remaining life of the loan or borrowers can choose to make monthly principal and interest payments while the student is enrolled in school and through the life of the loan.

Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.
This repayment example is based on a typical M&T Bank Undergraduate Student Loan made to a freshman borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 6.88% variable APR. It works out to 51 payments of $25.00, 119 payments of $136.17 and one payment of $112.58, for a Total Loan Cost of $17,591.81. Variable rates may increase over the life of the loan. This repayment example is based on a typical Graduate School Loan made to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.49% variable APR. It works out to 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Variable rates may increase over the life of the loan.

Rates

Lowest rates shown include the auto debit discount. 

As of February 25, 2021

Undergraduate


Variable Rates

1.13% APR

to 11.23% APR


Fixed Rates

4.25% APR

to 12.59% APR

Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.
Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.

Parent


Variable Rates

3.37% APR

to 12.99% APR


Fixed Rates

5.49% APR

to 13.87% APR

APRs for the Principal and Interest Repayment Option may be higher than APRs for the Interest Repayment Option. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. APRs assume a $10,000 loan with a 4-year in-school period.
APRs for the Principal and Interest Repayment Option may be higher than APRs for the Interest Repayment Option. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. APRs assume a $10,000 loan with a 4-year in-school period.

Graduate Student Loan


Variable Rates

2.12% APR

to 11.64% APR


Fixed Rates

4.75% APR

to 12.11% APR

Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.
Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.
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.
All loans and lines of credit and all terms referenced are subject to credit approval and other conditions. Other terms, conditions, fees and restrictions may apply.
M&T Bank Undergraduate and Graduate loans: These loans are for students at participating degree-granting schools. M&T Bank Undergraduate Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
Parent Loan: This loan must be used to pay for eligible student expenses at participating degree-granting schools. The student cannot be a borrower or cosigner and is not responsible for repaying the loan. The borrower, cosigner, and student must be U.S. citizens or U.S. permanent residents. If the school issues a refund directly to the student, the borrower and cosigner (if applicable) are still responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.
M&T BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
M&T Bank Loans are funded by M&T Bank.
Information advertised valid as of 05/01/2021.
Sallie Mae is a registered trademark of Sallie Mae Bank.
Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. All Advertised APRs assume a $10,000 loan. M&T Bank Undergraduate Student Loan APRs assume a freshman borrower with no other Sallie Mae serviced loans. Graduate School Loan APRs assume a 2-year in-school period.
This repayment example is based on a typical M&T Bank Undergraduate Student Loan made to a freshman borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 6.88% variable APR. It works out to 51 payments of $25.00, 119 payments of $136.17 and one payment of $112.58, for a Total Loan Cost of $17,591.81. Variable rates may increase over the life of the loan. This repayment example is based on a typical Graduate School Loan made to a first-year graduate borrower who chooses a variable rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 11.49% variable APR. It works out to 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Variable rates may increase over the life of the loan.
The borrower or cosigner must enroll in auto debit through M&T Bank's servicer, Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during  forbearance or deferment, if available for the loan.
Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
Money Mentor: The following content is provided by EVERFI, Inc, for educational purposes only. The information provided is not intended to provide investment, tax or legal advice and may contain information on products or services not available at M&T Bank and may describe practices or policies not available or applicable to M&T products. All examples are for illustrative purposes only. 
Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. M&T Bank reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
APRs for the Principal and Interest Repayment Option may be higher than APRs for the Interest Repayment Option. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. APRs assume a $10,000 loan with a 4-year in-school period.