You must attend an eligible school and be enrolled in an eligible program. U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the United States are also eligible. International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation. You must meet current credit and other eligibility criteria.
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. To qualify, borrower must be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
3. Primary borrower can earn reward into his or her active Upromise account of 2 percent 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. Upromise Accounts are not FDIC insured, carry no bank guarantee and may lose value.
4. Recurring payment must be successfully deducted from designated account for rate reduction to apply. Benefit suspended during forbearances and deferments.
5. Loan forgiveness is not available to borrowers residing in Alaska or Montana.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK THE SALLIE MAE WEBSITE TO OBTAIN THE MOST UP-TO-DATE PRODUCT INFORMATION.
Information advertised valid as of 1/25/2013.
Regions Bank is not the creditor for these loans and is compensated for the referral of Smart Option Student Loan customers.
Sallie Mae Smart Option Student Loans for Regions Bank customers are made by Sallie Mae Bank®.
Regions Bank is a member of FDIC. All loans are subject to credit approval.
©1995-2013 Sallie Mae, Inc. All rights reserved. The Sallie Mae logo, Sallie Mae, Sallie Mae Smart Option Student Loan, Smart Option Student Loan, Smart Reward, and Sallie Mae Bank 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. Other logos are trademarks or service marks of their respective owners.