The Smart Option Student Loan® by Sallie Mae®

For borrowers attending degree-granting institutions

Now you can pay for college the smart way with a variety of repayment options, competitive rates, and no origination fees. This is an ideal solution to help you pay for college expenses not covered by scholarships and federal loans.


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Features and Benefits

  • Competitive Rates.
    A choice of competitive rates for undergraduate students & lower rates for graduate students. Learn more.
  • Cosigner Release Available.
    After graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments to meet certain credit requirements. 5
  • No origination fees and no prepayment penalty.
  • A lower interest rate.
    Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled payments by automatic debit. 3
  • Pay now or later.
    Defer your payments until after school or choose an in-school repayment option that fits your needs. 1
  • Smart Reward® Cash Back.
    Students who become Upromise® members (which is free to join) and choose the interest or Fixed Repayment Option can get a Smart Reward in their Unpromise account of 2% of their scheduled monthly payments that are made on time while in school. 2
  • A quick credit result.
    Applying online is fast and easy. It only takes about 15 minutes to apply and get a credit result.
    Borrow up to 100% of your school-certified cost of attendance (minimum of $1,000). 4
  • Graduated Repayment Period.
    The Smart Option Student Loan is the only nationwide private student loan offering a Graduated Repayment Period feature 7, providing budget flexibility for graduating students. Students who graduate and maintain their Sallie Mae loans in good standing can request to make 12 interest-only payments instead of full principal and interest payments after their separation period. 8

Encouraging Responsible Borrowing

We encourage students and families to supplement their savings by exploring grants, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers. 1,2,3,4,5,6,7,8 Click here for important information. Terms, conditions and limitations apply.

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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency