Undergraduate Student Loans Info
Any student who resides in the United States and attends an online/offline degree-granting academic institution can apply for the Sallie Mae Smart Option Student Loan.
To do so, you must have a current photo ID and a cosigner with citizenship/permanent residency.
This academic financing features 3 basic aspects:
- 100% coverage: you can pay for all expenses associated with your degree, including tuition, food, housing, books, transfers, fees and a laptop.
- Discounts: when repaying, you have the opportunity to reduce the APR by 0.25% by enrolling in auto debit with Sallie Mae. You also save more when you opt for fixed or interest-only repayment rather than deferred repayment.
- Annual application: You can get the money you need each year by requesting it when it's due. Undergraduate students who repeat the process with a co-signer have a 96% approval rate.
Along with this, there are 3 options for repaying the money: deferred repayment (costs you more), fixed repayment ($25 installments) and interest-only (you save up to 12%).
There are also other relevant facts:
- The money is sent directly to the school/college.
- Having a co-signer gives you up to 4 times the chance of approval.
- Funding cannot exceed tuition or any minor financial aid.
If you want to have a college degree, Sallie Mae's undergraduate student loan supplements any financial aid you have.
Español: Préstamo para estudiantes no licenciados de Sallie Mae