Market Overview

Looking to Cover Remaining College Costs? Consider a Private Student Loan from Sallie Mae

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Sallie Mae's Smart Option Student Loan and Parent Loan Offer
Competitive Rates, No Origination Fee, and a Choice of Payment Options

With the end of summer in sight, college-bound students and their
families are making final arrangements for the fall semester, including
financing tuition, room and board, and related college expenses. While
scholarships and grants are a top source used to pay
for college
and federal student loans can help foot the bill, many
families are still left with a financing gap. Sallie Mae, the nation's
saving, planning, and paying for college company, offers competitive,
flexible, private student loans to help cover remaining expenses.

Available to undergraduate students attending degree-granting
institutions, Sallie Mae's Smart
Option Student Loan
offers fixed rates ranging from 5.74 to 11.85
percent annual percentage yield (APR). Variable rates for undergraduates
start from 4.12 to 10.98 percent APR. Sallie Mae's private student loans
have no origination fees or prepayment penalties.

Sallie Mae private student loan customers can choose to make monthly
interest-only or fixed payments while in school or defer payments until
after school. Customers can reduce their interest rate by 1.25
percentage points when they enroll in the automatic
debit option
and choose the in-school interest repayment option
instead of the deferred repayment option, or they can reduce their
interest rate by .75 percentage points when they enroll in the automatic
debit option and choose the fixed repayment option instead of the
deferred repayment option.

A freshman customer who makes interest-only payments on a Smart Option
Student Loan while in school could save an average of 27 percent on
total undergraduate loan costs, compared to our deferred payment option.
A freshman customer who makes monthly fixed payments while in school
could save an average of 13 percent on total undergraduate loan costs,
compared to the deferred payment option. More than half of Sallie Mae
customers choose to make payments while in school.

The Sallie Mae Smart Option Student Loan also offers:

  • Repayment Flexibility: Students now have 18 months after
    leaving school to request a Graduated
    Repayment Period
    . The Graduated Repayment Period offers greater
    budget flexibility by allowing customers to make 12 interest-only
    payments before transitioning into full principal and interest
    payments.
  • Cosigner Release: After they graduate, and once they have made
    12 on-time principal and interest payments and meet certain other
    credit requirements, a customer may apply to have their cosigner
    released
     from the loan.
  • Sallie Mae's Study Starter Benefit: Available to all Sallie Mae
    undergraduate private student loan customers and Sallie Mae Parent
    Loan customers with a new loan, Study
    Starter
    gives students access to study tools and thousands of
    tutors available 24/7 to help them achieve success in school.
  • Free Access to FICO® Scores: Customers
    have access to their FICO®
    Score
     on a quarterly basis, along with information about factors
    that affect credit scores and why monitoring credit scores is
    important.

Sallie Mae also offers a private Parent
Loan
with competitive fixed and variable interest rates, no
origination fee, and a choice of repayment options. Fixed rates for
academic year 2018-19 range from 5.74 to 12.87 percent APR. Variable
rates start from 5.62 to 11.99 percent APR. By comparison, the Federal
Direct PLUS Loan
for Parents is offered only at a fixed rate of 7.60
percent for academic year 2018-19 and carries an origination fee of
4.264 percent.

"Students and parents are tying up loose ends before entering or
returning to college this month, and that may include figuring out how
to pay for any remaining costs," said Kelly Christiano, senior vice
president, Sallie Mae. "Our competitively priced and flexible private
student loans can help bridge any financing gap affordably and
responsibly."

Sallie Mae recommends a 1-2-3 approach to paying for college: first,
maximize money that does not need to be repaid, such as scholarships and
grants; second, explore federal student loans; and, third, consider a
responsible private student loan.

For more information, or to apply visit SallieMae.com.

Sallie Mae (NASDAQ:SLM) is the nation's saving, planning, and
paying for college company. Whether college is a long way off or just
around the corner, Sallie Mae offers products that promote responsible
personal finance, including private education loans, free scholarship
search tools, free college financial planning tools, and online retail
banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM
Corporation and its subsidiaries are not sponsored by or agencies of the
United States of America.

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