Sallie Mae Smart Option Student Loan®


With the Smart Option Student Loan® you can pay for college the smart way! Offering great repayment options and competitive interest rates, it is an ideal solution to help you pay for college expenses not covered by grants, scholarships, federal and state student loans.


Enjoy competitive interest rates and no origination fees on student loans

  • Undergraduate pricing1: Competitive variable interest rate range from 2.50% APR to 9.59% APR. Competitive fixed interest rate range from 5.74% APR to 11.85% APR.
  • Graduate pricing1: Competitive variable interest rate range from 2.50% APR to 7.51% APR. Competitive fixed interest rate range from 5.74% APR to 8.56% APR.

Get the money you need for school

  • Borrow up to 100 percent of your school-certified cost of attendance.2

Choose the in-school repayment option that's best for you1

  • Deferred Repayment - Defer payments until six months after school
  • Fixed Repayment - Pay just $25 a month while in school and for six months after school3
  • Interest Repayment - Pay interest while in school and for six months after school
  • Unpaid interest will be added to the outstanding loan balance when your student loan enters required principal and interest repayment.
  • Prepay your loan at any time without penalty.
  • Consider paying more than the monthly interest while in school to lower the total cost of the loan.

A cosigner can really pay off

  • A cosigner may help you qualify
    Applying with a cosigner — like a parent or other creditworthy individual — may give you a better chance of approval or even help you get a lower interest rate.
  • Cosigner release available
    After graduation a borrower may apply for their cosigner to be released from the loan once they have made 12 consecutive, on-time principal and interest payments and meet certain credit requirements4. Releasing the cosigner will not adversely impact the rate on your loan.

Rewards for paying on time

  • Get a Smart Reward® in your Upromise® account of 2 percent of your scheduled monthly payments that are made on time while in school and six months after school (not available with the Deferred Repayment Option).5
  • Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.6

Student loan features

  • Free Quarterly FICO(r) Credit Score7
  • Easy online application with fast credit result and electronic signature ("eSign") available.
  • 24/7 online account management.
  • No prepayment penalty.
  • Loan forgiveness in the event of a student's death or permanent and total disability.
  • Graduated Repayment Period8


Students and Families

We encourage you to supplement your savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on your total student loan debt and your expected future earnings before considering a private education loan.

For information on student loans and how to afford college select below:

For additional information about student loans, please contact our education lending resource provider.

Student/Parent Loan Origination and Servicing Call Center:
Available: Monday - Thursday 8 a.m to 9 p.m. ET Friday 8 a.m. to 8 p.m. ET


1,2,3,4,5,6,7,8 Visit www.Regions.com/studentloans for additional information. Regions Bank has selected Sallie Mae as our education loan provider. Terms, conditions and limitations apply.