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The Sallie Mae® Smart Option Student Loan® Program

We are pleased to provide our credit unions with a private student loan referral program through a partnership with Sallie Mae.

An estimated 22 million students were due to enroll in U.S. colleges1 during the past year, requiring approximately $8.35 billion in private student loans2.

With today's college costs, federal financial aid is often not enough for a family to cover the full cost of higher education. The Smart Option Student Loan is a private education loan that you can offer members to help bridge the gap of expenses not covered by scholarships and federal loans.

Benefits for your credit union

  • Expands your credit union's product line at no cost or funding, while offering a high-value product to attract and retain valuable customers.
  • Generates fee income per originated loan without any upfront investment from your credit union.
  • Offers easy program activation on your website within a few weeks.

Benefits for your credit union members

  • Helps families get the money they need for college; after maximizing scholarships and federal loans, they can borrow up to 100% of school-certified cost of attendance.3
  • Offers competitive fixed or variable interest rates.
  • Offers a choice of three simple repayment options, including monthly interest-only or fixed monthly payments while in school and during the six-month separation period, or deferred payments until after school, for degree-granting institutions.4
  • Features an easy application process: it only takes about 15 minutes to apply and get a credit result.
  • Provides customer service and technical support from Sallie Mae, plus 24/7 online loan management through the activity center.

Encouraging Responsible Borrowing.

We encourage students and families to supplement their savings by exploring grants, scholarships, 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.

Assist your members with paying for college the smart way with the Smart Option Student Loan by Sallie Mae.

Start today

Contact us at 866/MyCorp1 for more detail to start participating in the Smart Option Student Loan Program.


This information is for borrowers attending degree-granting institutions only. Applications are subject to a requested minimum loan amount of $1,000. Credit criteria and eligibility requirements apply.

1 IES National Center for Education Statistics Projections of Education Statistics to 2021. SOURCE: U.S. Department of Education, National Center for Education Statistics (

2 College Board Trends in Student Aid 2014 Total Student Aid – Table 1 Student Aid and Nonfederal Loans in 2013 Dollars p. 10

3 As certified by your school and confirmed by Sallie Mae, less other financial aid received. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. Requested amounts exceeding $99,999 may require multiple loans.

4 Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. 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


Information advertised valid as of 12/26/2014.

Smart Option Student Loans are made by Sallie Mae Bank or a lender partner.

Sallie Mae, Smart Option Student Loan, Smart Reward and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries. Upromise and the Upromise logo are registered service marks of
Upromise, Inc. Other logos are trademarks or service marks of their respective owners.
SLM Corporation and its subsidiaries, including Sallie Mae Bank and Upromise, Inc., are not sponsored by or agencies of the United States of America.

The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Loan customers.

©2015 Sallie Mae Bank. All rights reserved. MKT10439 0115