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Information for Borrowers

Features of the CU Student HELP Smart Option Student Loan:
  • Fast Online Application. Our easy-to-complete application takes about 20 minutes. It's that quick and easy.(2)
  • No origination fees for degree-granting institutions.
  • No prepayment penalties
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit(3)

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1 Additional restrictions apply to students enrolled with less than half time status, including: (A) The loan period cannot exceed 130 days in length; and (B) The loan amount may not exceed the published cost of attendance at the school for all students with an enrollment status of less than half time. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. 2 $25/month fixed payment repayment option is available for new loan applications initiated on or after June 28, 2010, and is subject to change. The following typical loan example uses approximated numbers, is for informational purposes only and is an example of loan terms available through the Smart Option Student Loan: A Smart Option Student Loan made to a freshman borrower at a degree granting institution of $10,000 with two disbursements and a 10.05% APR [Interest rate of LIBOR + 10.375% (LIBOR of 0. 375% as of 6/25/2010) and no origination fee or disbursement fee]. APR may increase after consummation. Repayment consists of 51 fixed $25/month payments (in-school period of 45 months plus separation period of 6 months), followed by 119 principal and interest payments of $179.79 per month and one payment of $115.65 for total payments of $22,786 (finance charge of $12,786). 3 Benefit for enrolling in monthly recurring automatic debit payments is available for as long as monthly payment is successfully deducted from the designated bank account. Benefit is suspended during periods of forbearance and certain deferments.
The CU Student HELP Smart Option Student Loan is the ideal solution for funding up to 100% of your total cost of attendance if you still need funds after maximizing grants, scholarships and federal loans.

By choosing CU Student HELP Smart Option Student Loan, you will save money in comparison to traditional private 15-year student loans. You will also be working towards building your personal credit and graduate with significantly less debt by making payments while in school. We offer competitive interest rates and applying with a co-signer could help you obtain a lower interest rate on your loan. Also, by making the required monthly interest only payments you’ll avoid capitalized interest and reduce your total loan cost.

To qualify for the CU Student HELP Smart Option Loan you must attend an eligible school, be an undergraduate student or attending an eligible associate, graduate or technical/trade program at least half time. In some circumstances, the Smart Option Student Loan is available to less-than-half-time students and students enrolled in a continuing education program.(1) International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation.
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