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Student Loans

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.

Borrow responsibly

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

Undergraduate and graduate loans: This information is for students attending participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Parent Loan: This information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

1 Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.

2 Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan.

3 Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. This benefit may be suspended during periods of forbearance or deferment, if available for the loan.


Information advertised valid as of 04/25/2019.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

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