Regions Bank is not the creditor for these loans and is compensated for the referral of Smart Option Student Loan customers.
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/or Immigration Service documentation. You must meet current credit and other eligibility criteria.
1. Interest rates on loans with the Fixed and Deferred Repayment Options are higher than rates on loans with the Interest Repayment Option. Rates and fees shown are available for borrowers attending degree-granting institutions only. APRs for borrowers attending non-degree granting institutions range from 8.00% to 13.76% with an origination fee of up to 5%. Origination fees mean application or disbursement fees. Interest rates are variable and may increase after consummation.
2. The Deferred Repayment Option is only available for degree-granting institutions. Unpaid interest will capitalize when your loan enters principal and interest repayment.
3. Primary borrower can earn reward into his or her Upromise account of 2% of the scheduled payment for each on time payment made during the in school and separation period only while enrolled as a Upromise member. Primary borrower must be of age of majority (typically 18 years old). If borrower has two consecutive scheduled payments past due on a loan, he or she will no longer be eligible for the reward on that loan. The reward is not earned on payment amounts in excess of the scheduled payment. Benefit is subject to the terms and conditions of the Upromise service (as may be amended from time to time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards.
4. Recurring automatic monthly payment must be successfully deducted from designated bank account for rate reduction to apply. Benefit suspended during periods of forbearance and certain deferments.
5. To qualify for cosigner release, borrower must meet age of majority requirements, be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK THE SALLIE MAE WEBSITE (www.salliemae.com) TO OBTAIN THE MOST UP-TO-DATE PRODUCT INFORMATION.
Information advertised valid as of August 25, 2011.
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.
The Sallie Mae logo, Sallie Mae, Sallie Mae Bank, Sallie Mae Smart Option Student Loan and Smart Reward are registered service marks of Sallie Mae, Inc. Upromise is a registered service mark of Upromise, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc. and Upromise, Inc., are not sponsored by or agencies of the United States of America.