1. The release of a cosigner is at the sole discretion of Sallie Mae. The borrower must have a satisfactory history of making principal and interest payments and meet underwriting guidelines when the request for cosigner release is processed. The borrower’s account must remain current until the request for release is processed and the borrower must be a U.S. citizen or permanent resident at the time the cosigner release is processed.
2. Consult your financial advisor for more information or visit http://www.irs.gov/pub/irs-pdf/p970.pdf.
3. The automatic debit benefit is available for as long as the borrower’s monthly payment amount is successfully deducted from the borrower’s bank account. Borrowers can elect to make payments via automatic debit through Sallie Mae’s online account management system. This benefit lowers the borrower’s interest rate but does not change the amount of the monthly payment. This benefit is suspended during periods of forbearance and certain deferments.
4. The borrower must elect to receive electronic communications through Sallie Mae’s online account management system and provide a valid e-mail address within 90 days of the first payment due date. The electronic communications benefit is available for as long as the borrower maintains a valid e-mail address, continues to consent to receive all servicing communications concerning his or her student loan(s) via e-mail and makes on-time payments of amounts scheduled with no interruption. This benefit lowers the borrower’s interest rate but does not change the amount of the monthly payment.
5. To view whether or not a loan is eligible to participate in the Upromise Loan Link program, please visit Upromise.com/LoanLink. Access to Upromise is not limited to Sallie Mae customers.
Sallie Mae Smart Option Student Loans by Regions Bank are funded by Sallie Mae Bank®.
Borrower benefit information is valid as of March 23, 2009.
REGIONS BANK AND SALLIE MAE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BORROWER BENEFITS (INCLUDING INTEREST RATE REDUCTIONS), AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE REGIONS OR SALLIE MAE WEB SITES [REGIONS.COM OR SALLIEMAE.COM] CLOSE TO THEIR LOAN APPLICATION DATE, AND AGAIN PRIOR TO DISBURSEMENT, TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES, AND BORROWER BENEFITS.