sallie mae logo

Help your members pay for college.

Through a partnership with Sallie Mae®, a suite of education loans—created specifically for the needs of undergraduate and graduate students, and their parents—can help your credit union retain and grow member relationships by offering private student loans as a complement to student checking, debit cards, online banking, auto loans, and your complete suite of financial products.

Benefits:

  • Offers high-value products that can attract and help retain valuable members
  • Generates fee income per originated loan without any upfront investment from your credit union
  • Makes money available that students need for college. After maximizing scholarships and federal loans, they can borrow up to 100% of the school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop1
  • Offers the choice of competitive fixed or variable interest rates
  • The undergraduate and graduate loans let members choose from three simple repayment options2, including making monthly interest payments while in school, paying a fixed amount each month while in school, or deferring payments until after they leave school. Not only can the in-school repayment options reduce the total cost of the loan, they may also help a borrower build credit
  • Allows members to earn a 0.25 percentage point interest rate reduction when they enroll in and make monthly payments by auto debit3
  • Easy and fast online application. Members can also manage their loans online, 24/7
  • 4 months of free Chegg Study® with our Undergraduate and Parent loans4
  • Assists your members, when needed, with Sallie Mae’s dedicated customer service and technical assistance centers

Want to learn more about the Sallie Mae Smart Option Student Loan Program?

Contact Us

Borrow responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Disclaimer text

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

1. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

2. No purchase necessary. Void where prohibited. Odds of winning depend on number of entries received. Ends 12/31/2024. See Official Rules.

Sallie Mae loans are made by Sallie Mae Bank.

Information advertised valid as of 10/25/2024.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

 

© 2024 Sallie Mae Bank. All rights reserved. SMPC MKT15452 0920