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Smart Option Student Loan®

Its flexibility makes it an ideal solution for students and families who still need money for college after using grants, scholarships and federal student loans.
The Smart Option Student Loans offers these benefits:

  • Variable interest rates from 4.00% APR to 10.86% APR.1
  • Defer your payments until after school or choose an in-school repayment option1
  • No origination fee and no prepayment penalty
  • Borrow up to 100% of the school-certified cost of attendance3

Applying online is easy—it only takes about 15 minutes to apply and get a credit result. Learn More

Encouraging Responsible Borrowing

We encourage students and families to supplement their savings by exploring grants, scholarships, and federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.
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Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

1 Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You're charged interest starting at disbursement, while in school and during your six-month separation or grace period. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. Variable rates may increase over the life of the loan. Advertised APRs assume a $10,000 loan to a freshman with no other Sallie Mae loans.

2 Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Information advertised valid as of 10/25/2017. SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION. Smart Option Student Loans are made by Sallie Mae Bank or a lender partner.

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