FOR DEGREE-GRANTING INSTITUTIONS

FOR DEGREE-GRANTING INSTITUTIONS

THE SMART OPTION STUDENT LOAN? in partnership with Sallie Mae?

Many families face the challenge of how to pay for education expenses and have limited knowledge of their financing options. You can encourage responsible borrowing by recommending that borrowers supplement savings with grants, scholarships, and federal loans and then consider a private education loan. As a result of a partnership with Sallie Mae you can offer the Smart Option Student Loan as a private loan solution.

THE BENEFITS OF BORROWING SMARTER

This loan is a smart choice offering three flexible repayment options, competitive interest rates, and no origination fees. The application process is simple. It only takes about 15 minutes to apply online and get a credit result. Either a student or a cosigner can initiate a new loan; then they will be shown the interest rate and repayment options after credit approval.

COMPETITIVE INTEREST RATES NO ORIGINATION FEES

FOR DEGREE-GRANTING INSTITUTIONS

UNDERGRADUATE PRICING:1

Variable interest rate range: 2.25% APR to 9.37% APR Fixed interest rate range: 5.74% APR to 11.85% APR

GRADUATE PRICING:1,2

Variable interest rate range: 2.25% APR to 7.27% APR Fixed interest rate range: 5.74% APR to 8.56% APR

SAVE EVEN MORE WITH A COSIGNER

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual -- cosign the loan, the student may:

Qualify for a lower interest rate Improve their chances for approval Apply to release their cosigner after graduating and

making just 12 consecutive on-time principal and interest payments3

___________________________________________________________________________________________________________

FLEXIBLE AMOUNT Students can borrow up to 100% of their school certified education costs (minimum $1,000).

24/7 LOAN MANAGEMENT Students can check details of their account online any time.

NO EARLY PAYOFF PENALTY Loans may be prepaid at any time, without penalty.

INTEREST RATE REDUCTION Loan interest rate can be reduced by 0.25 percentage points while enrolled to make recurring, scheduled monthly payments by automatic debit.4

REWARDS FOR PAYING ON TIME

When students choose the interest repayment option or fixed repayment option they can get a 2% Smart Reward? in their Upromise? account when they make scheduled monthly payments on time while in school and six months afterwards.5

DEATH AND DISABILITY

Sallie Mae provides loan forgiveness for a cosigner if the student borrower dies or becomes permanently disabled. If a student borrower becomes permanently and totally disabled because of a condition that began or deteriorated after the date he or she obtained the loan, we will waive all remaining payments on the loan.6

Please see reverse side for important Smart Option Student Loan information.

FOR PARTNER USE ONLY ? NOT FOR DISTRIBUTION

FOR DEGREE-GRANTING INSTITUTIONS

SMART OPTION STUDENT LOAN? IMPORTANT INFORMATION

ENCOURAGING RESPONSIBLE BORROWING. Sallie Mae has helped more than 30 million Americans pay for college since 1972. We encourage students and families to supplement savings by exploring grants, scholarships, and federal student loans before they consider a Sallie Mae private education loan.

Partner is compensated by Sallie Mae for the referral of Smart Option Student Loan customers. This information is for borrowers attending degree-granting institutions only. Eligibility requirements apply.

1 Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. APRs for borrowers attending non-degree granting institutions range from 7.99 percent to 13.62 percent with an origination fee up to 5.00 percent. Origination fees mean application or disbursement fees. Variable rates may increase after consummation. Interest is charged while you are in school and during the 6 month separation period. Any interest that remains unpaid when you enter full repayment will be added to your loan balance.

2 Graduate student pricing on the Smart Option Student Loan is limited to students enrolling in a Masters/Doctorate level degree program. Graduate Certificate/Continuing Education course work is not eligible for graduate student pricing.

3 To qualify, borrower must be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.

4 The rate reduction benefit applies only if the recurring payment is successfully deducted from the designated account and is suspended during forbearances and certain deferments. For multi-party loans, only one party may enroll in auto debit.

5 Primary borrower can earn a reward into his or her active Upromise account of 2% of the scheduled loan payment amount for each on-time payment during the in-school and separation periods. Loan payments must remain current to be eligible for the reward. Benefit and Upromise membership subject to the terms and conditions of the Upromise service, as may be amended from time to time. Terms and conditions apply to the Upromise service. Participating companies, contribution levels and terms and conditions are subject to change at any time without notice. Go to to learn more. Upromise Accounts are not FDIC insured, carry no bank guarantee and may lose value.

6 Not available to borrowers residing in Alaska or Montana. WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. Information advertised valid as of September 25, 2013. Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank? or a lender partner. ? 2013 Sallie Mae, Inc. All rights reserved. The Sallie Mae logo, Sallie Mae, Sallie Mae Bank, Smart Option Student Loan, and Smart Reward are registered service marks of Sallie Mae, Inc. Upromise is a registered service mark of Upromise, Inc. SLM Corporation and its subsidiaries, are not sponsored by or agencies of the United States of America. SMPC MKT8176 0913

FOR PARTNER USE ONLY ? NOT FOR DISTRIBUTION

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download