With a Smart Option Student Loan,
you have control over your future
Undergraduate Student Loans
Welcome to the best loan option for school
Our Smart Option Student Loan® gives you the money and tools you need for your undergraduate journey.
Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.
What are the benefits of having a cosigner?
Most students don’t have the credit history to take out a loan by themselves. That’s where a cosigner can help. A cosigner is an adult with good credit, usually a parent, who shares responsibility for the loan. By having a cosigner on the application, students’ chances of being approved may increase!
What’s the difference between a fixed and variable rate?
Fixed interest rate
The rate never varies. You’ll have a predictable monthly payment amount.
Variable interest rate
The rate can go up or down with changes to the loan’s index. It can save you money but could cost more, and your monthly payment amount may change.
What’s the difference between federal and private student loans?
Federal loans are provided by the government, while you take out a private loan from a bank like Sallie Mae, or a credit union. There are also differences in interest rates, repayment options, and other features.footnote 6
When you apply for a private loan, the lender must check your credit, including your borrowing/repayment history, to decide if you qualify for a loan. Many federal loans don’t require a credit check.
What is my school's cost of attendance?
You can figure out how much a whole year of school will cost. Start by checking your financial aid award letter for your school's cost of attendance. You can also find the cost of attendance on your school’s website.
The cost of attendance is what it will cost you to go to school for the year, including expenses like tuition, fees, books, meals, and transportation. Depending on the type of loan, your school may need to check how much you’re borrowing to make sure it’s not more than the cost of attendance.
How to apply
It’s easy, just follow these steps:
Tell us about yourself
We’ll need some basic information from you (and your cosigner if you’re applying with one) like your name, address, and date of birth, along with some details about your school.
Choose your loan option(s)
After you’re approved, pick the repayment option and interest rate type that work best for your budget.
Sign & accept
Be sure to review all loan documents so you understand your responsibilities. Once you’ve decided to borrow from us, just e-sign and accept your loan. We'll work with your school to take care of the rest. That's it!