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Competitive interest rates

No origination fee

3 repayment options

For Degree-Granting Institutions For Degree-Granting Institutions

 
 
 

The Smart Option Student Loan®

Whether your college journey is just starting or underway, you need funds to make it happen. The Smart Option Student Loan offers a flexible way to bridge the funding gap between federal loans and the cost of your education.

  • Get competitive variable interest rates from 2.50% APR to 9.59% APR1
    (competitive fixed interest rates also available)
  • Choose from multiple repayment options, including no payments while in school1
  • Pay no origination fee
  • Pay your loan off early with no penalty
  • Borrow up to 100% of the school-certified cost of attendance2
 
 

Applying online is easy—it only takes about 15 minutes to apply and get a credit result.

Get Started 

 
 

Encouraging Responsible Borrowing

Sallie Mae has helped more than 34 million Americans pay for college since 1972. We encourage students and families to supplement their savings by exploring grants, scholarships, and 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. You must attend a participating school or have attended one in an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a non-U.S. citizen borrower who is attending or has attended a school located in the U.S. applying 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.

1 Interest rates for the Fixed and Deferred Repayment Options are higher than interest rates for 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. Unpaid Interest will be added to the Current Principal when you enter principal and interest repayment.

2 Sallie Mae reserves the right to approve a lower loan amount than the school certified amount. Some requested amounts may require multiple loans.

Information advertised valid as of 1/25/2016.

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.

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