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Sallie Mae to expand its student loan product offerings

As spring is prime student loan season for many college students and their parents, we’d like to let you know about some exciting changes coming to Sallie Mae’s Smart Option Student Loan® program.

Beginning in May, Sallie Mae is expanding its student loan product offerings to address the many and varied education finance needs of your members wherever they may be on their education spectrum. For example, members will now have access to six discipline-specific graduate school loans, including medical school loans, dental school loans, graduate school loans, MBA loans, Parent Loans, and other programs. Each of these products has been designed to best meet the needs of the target audiences. For example, in the case of the graduate school loans, Sallie Mae has tailored the deferment term to meet the uniqueness of each discipline’s requirements.

As May approaches, we soon will be asking you to replace your current website content with enhanced and updated materials reflecting these additional product offerings. All new landing pages and collateral will be provided by Sallie Mae.

Benefits to your credit union

As a reminder, participating credit unions benefit when their members obtain a loan through Sallie Mae, earning them fee income with no start-up costs or portfolio risks, as loans are underwritten, funded and serviced by Sallie Mae. Credit unions only need to incorporate a link from Sallie Mae on their website promoting and further detailing the Smart Option Student Loan®.