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. Apply today!
Features and Benefits:
- A choice of competitive interest rates for undergraduate students. Variable interest rates from 4.00% APR to 10.86% 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 from 4.00% APR to 8.91% 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.5
- Pay now or later—Defer your payments until after school or choose an in-school repayment option that fits your need.1
- Graduated Repayment Period—The Smart Option Student Loan is the first nationwide private student loan offering a Graduated Repayment Period feature6, providing budget flexibility after you finish school. Students who maintain their Sallie Mae loans in good standing can request to make 12 monthly interest–only payments instead of full principal and interest payments after they finish school.7
- A quick credit result—Applying online is fast and easy. It only takes about 15 minutes to apply and get a credit result.
Applying online is easy—it only takes about 15 minutes to apply and get a credit result.
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.