Student Loans

We are pleased to provide our credit unions with a private student loan referral program through a partnership with Sallie Mae®.

An estimated 22 million students were due to enroll in U.S. colleges1 during the past year, requiring approximately $8.8 billion in private student loans2.

With today's college costs, federal financial aid is often not enough for a family to cover the full cost of higher education. The Smart Option Student Loan is a private education loan that you can offer members to help bridge the gap of expenses not covered by scholarships and federal loans.

Benefits For Your Credit Union

•   Expands your credit union's product line at no cost or funding, while offering a high-value product to attract and retain   valuable members.

•   Generates fee income per originated loan without any upfront investment from your credit union.

•   Offers easy program activation on your website within a few weeks.

Benefits For Your Credit Union Members

•   Helps families get the money they need for college; after maximizing scholarships and federal loans, they can borrow up to 100% of school-certified cost of attendance (minimum $1,000).6

•   Offers competitive fixed or variable interest rates.

•   Offers a choice of three simple repayment options, including monthly interest-only or fixed monthly payments while in school and during the six-month separation period, or deferring payments until after school, for degree-granting institutions.3 In-school repayment options not only significantly reduce the total cost of the loan, they also can help borrowers build credit.

•   Gives members the opportunity to earn a Upromise® Smart Reward®4 for paying on time and a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.5

•   Features an easy application process: it only takes about 15 minutes to apply and get a credit result.

•   Provides customer service and technical support from Sallie Mae, plus 24/7 online loan management through the activity center.

Encouraging Responsible Borrowing

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

Assist your members with paying for college the smart way with the Smart Option Student Loan by Sallie Mae.

Start Today

To participate in the Smart Option Student Loan Program, contact your Corporate America Credit Union Member Advisor or reach us at or (800) 292-6242. 

1 IES National Center for Education Statistics Projections of Education Statistics to 2021. SOURCE: U.S. Department of Education, National Center for Education Statistics (

2 College Board Trends in Student Aid 2013 (  Types of Loans – p. 17

3 Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. 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.

4 Primary borrower can earn a reward into his or her active Upromise account of 2% 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. The Smart Reward Benefit and Upromise membership are subject to the terms and conditions of the Upromise service, as may be amended from time to time. Terms and conditions apply to the Upromise service. Participating companies, contribution levels and terms and conditions are subject to change at any time without notice. Go to to learn more. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.

5 The rate reduction benefit applies only if the recurring payment is successfully deducted from the designated account and is suspended during forbearances and certain deferments. For multi-party loans, only one party may enroll in auto debit.

6 As certified by your school and confirmed by Sallie Mae, less other financial aid received.  Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.  Requested amounts exceeding $99,999 may require multiple loans.


Information advertised valid as of 02/25/2014.

The Sallie Mae logo, Sallie Mae, Sallie Mae Bank, Smart Reward, and Smart Option Student Loan are registered service marks of Sallie Mae, Inc. Upromise and the Upromise logo are registered service marks of Upromise, Inc.  SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Loan customers.

Other logos are trademarks or service marks of their respective owners.

Sallie Mae partners are compensated for the referral of Smart Option Student Loan customers.
©2014 Sallie Mae, Inc. All rights reserved. SMPC-MKT8922-0314