Students can borrow up to the full cost of their education, less other aid received. Students may apply on their own or if needed with a qualified cosigner. Interest paid on qualified student loans may be tax deductible. Complete the easy online application for a fast credit decision.
Sallie MaeŽ Smart Option Student LoanŽ
The Smart Option Student Loan® is an ideal solution for families that have a gap when it comes to funding their student’s education. The Smart Option Student Loan helps students save money, pay off their student loan faster, and build credit.
- Competitive interest rates
- No origination fees for borrowers attending degree-granting institutions
- Save hundreds—even thousands—of dollars over traditional 15-year payment-deferred private student loans
- Flexible repayment options—choose affordable fixed payments of $25 a month or make full interest payments to save even more
- Smart Reward—earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school
- Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit
- Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate
- You can apply to release your cosigner after graduating and making just 12 consecutive on-time principal and interest payments
Borrow what you need—up to 100% of your education costs.
 Borrow up to the cost of attendance (minimum $1,000) as certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.
 There are no origination fees for borrowers attending degree-granting institutions. For borrowers attending non-degree granting institutions, the origination fee will range from 0% to 5%. Please visit your financial aid office for more information.
 The following typical loan example uses approximated numbers, is for informational purposes only and is an example of loan terms available through the Smart Option Student Loan: A Smart Option Student Loan made to a freshman borrower at a degree granting institution of $10,000 with two disbursements and a 10.05% APR [Interest rate of LIBOR + 10.375% (LIBOR of 0. 375% as of 12/27/2010) and no origination fee or disbursement fee]. APR may increase after consummation. Repayment consists of 51 fixed $25/month payments (in-school period of 45 months plus separation period of 6 months), followed by 119 principal and interest payments of $179.79 per month and one payment of $115.65 for total payments of $22,786 (finance charge of $12,786).
 2% reward is available during initial in-school and separation period only. If borrower leaves school but returns later, the reward will not be available for any subsequent in-school period. Primary borrower must be of the age of majority in his or her state of residence (typically 18 years old) and must indicate current Upromise membership or enroll in Upromise at the time of loan application. To be eligible to receive the 2% reward, the borrower may not have had two consecutive scheduled payments past due on the loan for which the benefit is available. If the borrower has two consecutive scheduled payments past due, he or she will no longer be eligible for the reward on that loan. If all conditions are met, primary borrower will earn 2% of the scheduled payment amount in Upromise rewards into his or her Upromise account for each on time payment. The 2% reward is not earned on payment amounts in excess of the scheduled payment. Benefit is subject to the terms and conditions of the Upromise service (as may be amended from time-to-time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards. Benefit available on eligible loans first disbursed on or after June 1, 2010.Smart Option Loans are made by Sallie Mae Bank.®
 Benefit for enrolling in monthly recurring automatic debit payments is available for as long as monthly payment is successfully deducted from the designated bank account. Benefit is suspended during periods of forbearance and certain deferments.
You must attend an eligible school and be enrolled in an eligible 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.
Smart Option Loans are made by Sallie Mae Bank®.