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Career Training Smart Option Student Loan®

The simple and smart career training loan

Our Career Training Smart Option Student Loan offers competitive interest rates and various financial and educational benefits, including a choice of repayment options.

Savings and choice2

  • Interest Repayment Option. Make monthly interest payments while in school.
  • Fixed Repayment Option. Pay just $253 a month while in school.

Competitive variable interest rates

  • No prepayment penalties.

Get the money you need for school

  • Borrow up to 100% of the school-certified cost of attendance.

Lower your interest rate

  • Get a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.

Interest rates

  • Variable interest rates from 4.75% APR to 11.89% APR.2
  • 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.4

Fees

  • 0% Disbursement fees

Repayment terms

  • Choose the repayment option that works for you while you are in school—pay just $25 a month, or make monthly interest payments on your loan.
  • Full principal and interest payments begin six months after you leave school for all repayment plans.
  • No prepayment penalty, regardless of the repayment plan you choose.

 

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Have questions?

Get help deciding which loan is right for you.
Call us at (877) 279-7172(877) 279-7172


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A cosigner can help you qualify
If a parent or other creditworthy individual cosigns the loan with you, it may give you a better chance of approval.

Cosigner release available
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 requirements.

Learn more


 
 

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 non-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 Sallie Mae reserves the right to approve a lower loan amount than the school certified amount.

2 Interest rates for the Fixed Repayment Option 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.

3 This informational repayment example uses typical loan terms available to a borrower whose planned term for enrollment is approximately one academic year who elects the Fixed Repayment Option and has a $10,000.00 loan with two disbursements and a 11.89% variable APR: 15 payments of $25, 119 payments of $157.43 and one payment of $96.64, for a Total Loan Cost of $19,205.81.

4 Either the borrower or cosigner (not both) must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due is successfully deducted from the designated bank account each month and is suspended during forbearances and certain deferments.

5 Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually, and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: open bankruptcy, open foreclosure, student loan(s) in default or 90 day delinquencies in the last 24 months. Requirements are subject to change.

Residency and Relocation Loans and Bar Study Loans are intended to cover expenses not included in your school's cost of attendance.

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

Information advertised valid as of .

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.