Sallie Mae Smart Option Student LoanSM by College
Savings Bank
The innovative Smart Option Student Loan helps students save money, build good credit, and pay off their student loan debt faster. Designed to help shorten the amount of time it takes to pay off the loan, the Smart Option Student Loan requires interest-only payments made while in school and during the six-month separation period to avoid capitalized interest. Students save money on interest, significantly reducing the total loan cost.
The Sallie Mae Smart Option Student Loan by College Savings Bank is an ideal solution for students who still need funds after they have maximized grants, scholarships and federal loans. With this school-certified loan, students can borrow up to the full cost of their education, less other aid received.*
Eligibility
- You must attend an eligible community college, traditional college or university, or eligible graduate program at least half time. In some circumstances, the Smart Option Student Loan is available to less than half-time students. Contact your financial aid office for more information.
- You must meet current credit and other eligibility criteria.
Click here for more information on the Sallie Mae Smart Option Student Loan.
*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 lower loan amount than what the school has certified.
Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank®. College Savings Bank is compensated for the referral of Smart Option Student Loan customers. College Savings Bank does not issue any of the loans nor are they involved with any fees or payments that may be incurred.
Borrower benefit information is valid as of January 2010.
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 (SALLIEMAE.COM) CLOSE TO THEIR LOAN APPLICATION DATE AND AGAIN PRIOR TO DISBURSEMENT TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES AND BORROWER BENEFITS.
Sallie Mae, and Sallie Mae Bank are registered service marks and Sallie Mae Smart Option Student Loan is a service mark of Sallie Mae, Inc. Upromise and Upromise Loan Link are registered service marks of Upromise, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America. ©2009 Sallie Mae, Inc. All rights reserved. (7/09)