National Education
Smart Option Student Loan® made by Sallie Mae®

Now you can pay for college the smart way with great repayment options! The National Education Smart Option Student Loan made by Sallie Mae is an ideal solution to help bridge the gap between federal loans and the cost of your education expenses.

Interest Repayment
Pay More Now
Fixed Repayment
Pay Less Now
Deferred Repayment
Pay Later

Apply Now


Get the money you need now for school
Choice Plus Savings
Competitive Interest Rates
Cosigner Release Option Available8
Earn rewards for paying on time

Rates & Terms

Interest Rates
Loan Limits
Repayment Terms

1 Savings based on typical loan to a freshman borrower attending a degree-granting institution.

2 The following repayment example is for informational purposes only and is an example of available loan terms of the Smart Option Student Loan with the Fixed Repayment Option: $10,000 loan with two disbursements, no origination fee and a 7.21% APR made to a freshman borrower at a degree-granting institution. APR may increase after consummation. Repayment consists of 51 fixed $25/month payments during the in-school and separation period, followed by 119 payments of $140.28 per month and one payment of $114.17. Unpaid interest will capitalize when the loan enters principal and interest repayment.

3 The Deferred Repayment Option is only available for degree-granting institutions. Unpaid interest will capitalize when the loan enters principal and interest repayment.

4 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.

5 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.

6 Benefit is available with Smart Option Student Loans that first disbursed between 7/1/11 and 10/31/11. Borrowers attending degree-granting institutions are automatically enrolled in the Tuition Insurance Benefit beginning on the day of the first loan disbursement. Benefit must be activated in order to receive the full twelve months of coverage. Activation period ends four months after first loan disbursement. The Tuition Insurance Benefit covers up to $2,500 per semester ($5,000 total per policy) of payments of tuition, room and board, books, and fees that are lost if the student withdraws from school for a covered medical reason. Additional coverage is available for purchase. If the loan under which the benefit is provided is cancelled, the coverage provided by the Tuition Insurance Benefit will terminate. The Tuition Insurance Benefit is a group insurance policy with College Parents of America offered through Next Generation Insurance Group, LLC. Coverage is underwritten by Markel Insurance Company, Glen Allen, VA. The Tuition Insurance Benefit is provided at no charge to the borrower. Individuals cannot be enrolled in more than one Tuition Insurance Benefit at a time. In order to process and fulfill the Tuition Insurance Benefit, customer information will be shared with Next Generation Insurance Group, LLC, their underwriters, their service providers, and College Parents of America.

7 Recurring automatic monthly payments must be successfully deducted from designated bank account for rate reduction to apply. Benefit suspended during periods of forbearance and certain deferments.

8 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.

Information advertised valid as of May 16, 2011.


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.

Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank®.

* The Sallie Mae partner referenced is compensated for the referral of Smart Option Student Loan customers.

© 2011 Sallie Mae, Inc. All rights reserved. MKT2187 02/11