Set your student up for success.

Whether you're a parent or an individual helping pave the way, M&T can help you understand what student loan options are available for you. 

Paving the way for your student's future doesn't have to sacrifice yours.  

Help your student manage up to 100% of their school-certified expenses while they're working towards their bachelor's, associate's, or certificates at a degree-granting school. 

M&T parent loans are available with competitive rates and convenient repayment options to fit your situation. 

 

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.

VARIABLE RATES:

3.37% APR - 12.99% APR

FIXED RATES:

5.49% APR - 13.87% APR

Lowest rates include an auto debit discount. Fixed rates will remain constant while variable rates will fluctuate with the market over the life of the loan. 

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 to a person borrowing for a freshman student. 
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 to a person borrowing for a freshman student. 
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benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month and may be suspended during periods of forbearance or deferment, if available for the loan.

Choose from 2 repayment options. 

Choose one of the following repayment options as part of the application process. 

1. Pay only interest while your student is in school for up to 48 months - then make principal and interest payments for the remaining life of the loan.

2. Pay principal and interst payments while your student is in school and after school. 

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 to a person borrowing for a freshman student. 

Details and Features

Rate discount available

Get a 0.25 percentage point interest rate reduction when you enroll and make monthly payments by auto debit.

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 and may be suspended during periods of forbearance or deferment, if available for the loan.

Loan term

Principal and interest payments up to 10 years. 

This repayment example is based on a typical Parent Loan made to a borrower (on behalf of a freshman student) who chooses a variable rate and the Principal and Interest Repayment Option for a $10,000 loan, with two disbursements, and a 12.99% variable APR. It works out to 4 payments of $75.05, 115 payments of $151.38 and one payment of $80.65, for a Total Loan Cost of $17,789.55. Variable rates may increase over the life of 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.

Set your student up for success

Give your student free access to 4 months of Textbook Solutions and Expert Q&A with Chegg Study®, one 60 minute session of live chat tutoring with Chegg Tutors®, and 4 months of proofreading and citation help with EasyBib® Plus.

 

This promotional benefit is provided at no cost to borrowers with new loans that first disburse prior to April 30, 2021. Borrowers who reside in, attend school in, or borrow for a student attending school in Maine are not eligible for this benefit. Chegg Tutors offers One Free session of up to 60 minutes. A session will be considered redeemed if it has a minimum duration of thirty (30) minutes. Any minutes not used within the same session will expire upon conclusion of the session. No cash value. Terms and Conditions apply. Please visit chegg.com/studystarter/termsandconditions for complete details. This offer expires one year after issuance.

Got questions? We're here to help. 


Application Checklist

Before starting, we recommend you (and your student) 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.
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M&T CHOICEQUITY

Unlock your home’s equity to help pay for school expenses.

When student loans aren’t enough, you can apply for an M&T CHOICEquity Account to help your college student pay for school. With the flexibility to choose how and when you use the funds, you can use this line of credit to make tuition payments, purchase a car, buy books and other school supplies.

Learn More

When applying for an M&T Student Loan, you’ll be transferred to our servicing provider, Sallie Mae®. 

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.
​Parent Loan: This information is for borrowers with students attending degree-granting institutions only. The student is not eligible to be a borrower or cosigner and must be attending or have attended a participating school during an eligible prior enrollment period, or be enrolled in an eligible study abroad program. The borrower, cosigner and student must be U.S. citizens or 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 to Sallie Mae. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. 
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.
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 02/25/2021.
Sallie Mae is a registered trademark of Sallie Mae Bank.
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.