The Smart Option Student Loan® for Elevations* by Sallie Mae®

For borrowers attending degree-granting institutions.

A Choice of Repayment Options, Competitive Interest Rates, and No Origination Fee. An ideal solution to help you pay for college expenses not covered by scholarships and federal loans.

Features and Benefits:

  • A choice of competitive interest rates for undergraduate students. Variable interest rates start from 3.87% APR to 10.75% APR 1. We also offer fixed interest rates from 5.74% APR to 11.85% APR. 1
  • Lower interest rates for graduate students. Variable interest rates start from 3.87% APR to 8.79% APR 1. Fixed interest rates from 5.74% APR to 8.56% APR. 1
  • No origination fee and no prepayment penalty.
  • Lower the interest rate — Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit. 2
  • Borrow up to 100% of the school-certified cost of attendance. 3
  • Cosigner release available. You may apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments and meet certain credit requirements. 4
  • Pay now or later — Defer your payments until after school or choose an in-school repayment option that fits your needs. 1
  • Graduated Repayment Period — The Smart Option Student Loan was the first nationwide private student loan to offer a Graduated Repayment Period feature 5, 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 six months after school. 6
  • A quick credit result — Applying online is fast and easy. It only takes about 15 minutes to apply and get a credit result.


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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.

* 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.

This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.


Information advertised valid as of March 26, 2018.

1,2,3,4,5,6 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