Loans for undergraduates,graduate students, and parents
Help your members pay for college
When it comes to paying for college, your members should first look for money they won’t have to pay back, such as scholarships and grants. The next step is to explore federal student loans. Finally, members may consider a responsible private student loan to cover the rest. Through a partnership with Sallie Mae®, a suite of education loans - created specifically for the needs of undergraduate and graduate students, and their parents - will help your credit union retain and grow member relationships by offering private student loans as a complement to student checking, debit cards, online banking, auto loans, and your complete suite of financial products.
Benefits to your credit union
The Sallie Mae suite of loans expands your credit union’s product line at no cost or funding:
- Offers high-value products that can attract and help retain valuable customers
- Generates fee income per originated loan without any upfront investment from your credit union Benefits to your members
- Makes money available that students need for college. After maximizing scholarships and federal loans, they can borrow up to 100% of the school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop.1
Offers the choice of competitive fixed or variable interest rates.
- The undergraduate and graduate loans let members choose from three simple repayment options,2 including making monthly interest payments while in school, paying a fixed amount each month while in school, or deferring payments until after graduation. Members can choose the repayment option that fits their needs. Not only can the in-school repayment options reduce the total cost of the loan, they may also help a borrower build credit. Different repayment options are available for the Parent Loan.
- Allows members to earn a 0.25 percentage point interest rate reduction when they enroll in and make monthly payments by auto debit.3
- Makes applying online easy—it only takes about 15 minutes to apply and get a credit result.
- Assists your members, when needed, with Sallie Mae’s dedicated customer service and technical assistance centers. Members can also manage their loans online, 24/7.
Get started today Assist your members with paying for college the smart way with the suite of loans by Sallie Mae. Contact us for more details to start participating in the program.
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
For more information, please contact Corporate America at (800) 292-6242 or firstname.lastname@example.org.