Private Student Loans can make up the difference between
total cost of school and any financial
aid that the student may receive.
With this school-certified loan, student can borrow up to the full cost of their education, less other aid received l
Summary Information:
Benefits:
- pricing that rewards creditworthy begins after graduation or separation from school for most lender programs: 1
- applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate
- borrowers may apply for a cosigner release after successful completion of their education 4
- a 0.25% percentage point interest rate reduction is available for automatic debit 2
- a 0.25% percentage point interest rate reduction is available if the borrower provides a valid e-mail address and elects to receive all servicing communications via e-mail 3
Features:
- easy online application with fast credit decision and electronic signature ("eSign")
- 24/7 online account management
- combined billing is available for Sallie Mae-serviced student loans
- no prepayment penalty
- you may be able to deduct the interest you pay on a qualified student loan 5
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.
International Study:
- available for U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the U.S.
- international students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and U.S. Citizenship & Immigration Service (USCIS)
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