Sallie Mae Smart Option Student Loan

The Smart Option Student Loan^® from Sallie Mae cuts the total cost of your student loan because you make interest-only payments while you are in school. Graduate ahead of the game by paying a little while you learn. The Smart Option.

Scholarships, Grants, financial aid and federal loans are a great way to finance your education. But when those don’t cover all your costs, it’s time for YOU to invest in YOUR future. The Smart Option Student Loan avoids capitalized interest and significantly reduces the total cost of the loan.

Apply with a creditworthy cosigner — their good credit may lower your interest rate and save you even more money. Applying is easy and can be done completely online with an “eSign” electronic signature. Get Started

The Smart Option Student Loan^® rewards you for taking the initiative to invest in your education. With the Smart Option Student Loan you’re setting yourself up to save in more ways than one.

Loan amounts as little as $1,000, or up to your total education cost after scholarships, grants and federal aid.^¡
Earn a .25% interest rate reduction for making payments via automatic debit.^◊ You have enough to worry about at college, save yourself the hassle and some money.
Apply with a creditworthy cosigner and you may receive a lower interest rate.
You can apply for cosigner release after successful completion of your education.^§
Ability to prepay your loan at anytime without penalty.

Applying for your Sallie Mae Smart Option Student Loan^® is easy and can be done completely online. Follow these three easy steps and you’ll be e-signing your application in no time.

Application Checklist. (Tip: Get it all together before you start.)

Cosigner information

Social Security number

Personal reference(s)

General income and expense information

Cosigner confirmation number and PIN — given to you by the borrower

Your information

Social Security number

Personal reference(s)

General income and expense information

Do you have other student loans? If so, please have that information on hand as well.

Students who are foreign citizens must be attending a U.S. postsecondary school and must apply with a creditworthy cosigner who is either a U.S. citizen or eligible permanent resident. Applicable documentation of residency is required.

Enter all the information and complete an online credit check.

You’ll need to enter all the info from Step 1, plus your school info and student loan requirements (ie: how much you’ll need). Some of the information you provided will be used to do a fast real-time online credit check.

E-sign and you're done!

Securely sign the application online and that’s it —
no pens or number 2 pencils required!

Legal Requirements and Disclaimers:

You must attend an eligible school, be an undergraduate student or attending an eligible associate, graduate or technical/trade program at least half time. In some circumstances, the Smart Option Student Loan is available to less-than-half-time students and students enrolled in a continuing education program. U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the United States are also eligible.

International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation.

You must meet current credit and other eligibility criteria.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BORROWER BENEFITS (INCLUDING INTEREST RATE REDUCTIONS) AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN APPLICATION DATE, AND AGAIN BEFORE DISBURSEMENT TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES AND BORROWER BENEFITS.

Borrower benefit information is valid as of 11/18/09.
Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank® or a Sallie Mae lender partner.

¡ Borrow as much as you need to pay for your education, up to the cost of attendance as certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a loan lower than what the school has certified.

§ The release of a cosigner is at the sole discretion of Sallie Mae. The borrower must have a satisfactory history of making principal and interest payments, meet age of majority requirements and meet underwriting requirements when the request for cosigner release is processed. The borrower's account must remain current until the request for release is processed and the borrower must be a U.S. citizen or permanent resident at the time the cosigner release is processed.

◊ The automatic debit benefit is available for as long as the borrower's monthly payment amount is successfully deducted from the designated bank account. Borrowers can elect to make payments via automatic debit through Sallie Mae's online account management system. This benefit lowers the borrower's interest rate but does not change the amount of the monthly payment. This benefit is suspended during periods of forbearance and certain deferments.

The Sallie Mae logo, Sallie Mae, Sallie Mae Bank and Sallie Mae Smart Option Student Loan are registered service marks. Dream. Invest. Succeed. is a service mark of Sallie Mae, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America. Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank or a Sallie Mae Lender partner.