For borrowers attending degree-granting institutions.
*We are compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
(1) Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. APRs for borrowers attending non-degree-granting institutions range from 7.99% to 13.62% with an origination fee up to 5%. Origination fees mean application or disbursement fees. Variable rates may increase after consummation. Interest is charged while you are in school and during the 6 month separation period. Any interest that remains unpaid when you enter full repayment will be added to your loan balance.
(2) Primary borrower can earn reward into his or her active Upromise account of 2% of the scheduled loan payment amount for each on-time payment during the in-school and separation periods. Loan payments must remain current to be eligible for the reward. Benefit and Upromise membership subject to the terms and conditions of the Upromise service, as may be amended from time to time. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.
(3) Recurring payments must be successfully deducted from designated account for rate reduction to apply. Benefit suspended during forbearances and certain deferments.
(4) To qualify, borrower must be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
(5) Graduate student pricing on the Smart Option Student Loan is limited to students enrolling in a Masters/Doctorate level degree program. Graduate Certificate/Continuing Education course work is not eligible for graduate student pricing.
(6) 7 Explore federal loans and compare to ensure you understand the terms and features. Smart Option Student Loans that have variable rates can go up after consummation and do not have many of the repayment alternatives like Income-Based Repayment, Extended Repayment, and certain types of deferments that are available with federal loans. Federal loans generally have origination fees.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Information advertised valid as of April 25, 2013.
Smart Option Student Loans are made by Sallie Mae Bank® or a lender partner.
Terms and conditions apply to the Upromise service. Participating companies, contribution levels and terms and conditions are subject to change at any time without notice. Go to upromise.com to learn more.
The Sallie Mae logo, Sallie Mae, Sallie Mae Bank, Smart Option Student Loan, and Smart Reward are registered service marks of Sallie Mae, Inc. Upromise and the Upromise logo are registered service marks of Upromise, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., and Upromise, Inc. are not sponsored by or agencies of the United States of America. © Sallie Mae, Inc. All rights reserved SMPC MKT6791 0413