For undergraduate students at degree-granting institutions
With college costs growing fast, it’s time to borrow smarter. The Smart Option Student Loan offers multiple repayment options and competitive interest rates to help you pay for college expenses not covered by scholarships and federal loans.
- Variable rates: 2.00% APR to 12.35% APR1
- Fixed rates: 3.75% APR to 13.72% APR1
Lowest rates shown include the auto debit discount.
Repayment term: 10 – 15 years of principal and interest payments.2
Three repayment options1: Pay monthly interest or $25 per month2 while in school or defer payments until after you graduate. Choose the repayment option that fits your needs.
- No origination fee and no prepayment penalty3
- Auto debit savings: 0.25 percentage point interest rate reduction for enrolling in and making monthly payments by automatic debit.4
- Get an exclusive Chegg benefit: Pick the only undergraduate student loan that offers 4 months of free Chegg® study help5
- Access to quarterly FICO® Credit Scores for both borrowers and cosigners6
- Graduated Repayment Period7: Request to make 12 monthly interest-only payments after you finish school
- Death and disability loan forgiveness8
- Cover an existing balance for an enrollment period within the past 365 days9
- Borrow up to 100% of the school-certified cost of attendance10
- 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 requirements11
Available to students enrolled full-time, half-time, and less than half-time.
It only takes about 15 minutes to apply online and get a credit result.