Defer payments until after school, or pay as much as you want while in school, to enjoy maximum flexibility.1

Pay just $25 a month2 while in school and for six months after school.1

Pay interest while in school and for six months after school.1

The Smart Option Student Loan offers these benefits:

  • Competitive variable interest rates and no origination fees1
    Get variable interest rates that range from 2.25% APR to 9.37% APR.
  • Rewards for paying on time3
    Get a Smart Reward® in your Upromise® account of 2% of your scheduled monthly payments that are made on time while in school with the Interest and Fixed Repayment Options.
  • Lower your interest rate4
    Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
  • Get the money you need
    Borrow up to 100% of your school-certified cost of attendance (minimum $1,000).5

APPLYING ONLINE IS EASY—IT ONLY TAKES ABOUT 15 MINUTES TO APPLY AND GET A CREDIT RESULT.

You'll choose your repayment option during the application process.

GET STARTED

We also offer fixed interest rates from 5.74% APR – 11.85% APR.1 Learn More

New! Free Quarterly FICO® Credit Score

Borrowers who have a loan disbursed during the 2014-15 academic year may receive their FICO® Score quarterly. You'll also receive access to the two key factors affecting your score, and educational content to help you understand why monitoring your FICO® Score is important.6

APPLY WITH A COSIGNER

If a parent or other creditworthy individual cosigns the loan with you, it can help lower your interest rate—and give you a better chance of approval.

RELEASE YOUR COSIGNER

Apply to release your cosigner once you graduate and make 12 consecutive on-time principal and interest payments.7

Sallie Mae has helped more than 30 million Americans pay for college since 1972. We encourage students and families to supplement their savings by exploring grants, scholarships, 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.

 
 

This information is for borrowers attending degree-granting institutions only. Credit criteria and eligibility requirements apply.

1 Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. 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 This informational repayment example uses typical loan terms available to a freshman borrower who elects the fixed repayment option and has a $10,000.00 loan with two disbursements and a 7.21% variable APR: 51 payments of $25, 119 payments of $140.28 and one payment of $114.17, for a total paid of $18,082.49. Variable rates may increase after consummation.

3 Primary borrower can earn a 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. The Smart Reward Benefit and Upromise membership are subject to the terms and conditions of the Upromise service, as may be amended from time to time. 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. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.

4 Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the borrower's monthly payment amount is successfully deducted from the designated bank account and is suspended during forbearances and certain deferments. For multi-party loans, only one party may enroll in auto debit.

5 As certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. Requested amounts exceeding $99,999 may require multiple loans.

6 Your FICO® Credit Score is based on data from TransUnion and may be different from other credit scores. FICO® Scores are delivered only to borrowers who have an available score. You will receive your FICO® Score quarterly after your student loan is fully disbursed. This benefit may change or end in the future. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

7 Only the borrower may apply for cosigner release. The borrower must provide proof of successful completion of school, be a U.S. citizen or permanent resident, be current and have made 12 consecutive on-time payments of principal and interest immediately before applying, and meet our credit underwriting criteria in effect when the release request is processed.

Information advertised valid as of 6/25/2014.

WE RESERVE 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.

Sallie Mae, Smart Option Student Loan, Smart Reward, and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

Upromise and the Upromise logo are registered service marks of Upromise, Inc.

Smart Option Student Loans are made by Sallie Mae Bank or a lender partner.