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Alternative Student Loans for College Financial Aid


Sallie Mae: Smart Option Student Loan details:

Sallie Mae

When it comes to college student loans, Sallie Mae easily stands above them all. Not only is the Sallie Mae Smart Option Student Loan program the leader in student loans, but it offers a full range of options that allow students to pursue the assistance of private loan opportunities when they are looking for ways to offset the cost of higher education. Regardless of whether you are a graduate or an undergraduate student, you can apply for assistance from ne of the Sallie Mae’s loan programs.

One attractive feature of the Smart Option Student Loan is that there is no cap on the amount of money you can receive when you are in school. Further, the program allows student borrowers to take loans in the amount of the full price of their education, minus federal student loan costs. Exemptions to this limit can be received by borrowers by petitioning the school of attendance.

Repayment Flexibility

The Sallie Mae Smart Smart Option student loan is the only program that offers a graduated loan repayment feature, which allows graduating students the freedom to apply budget flexibility to their plan. Students who graduate and maintain a good standing with their Sallie Mae loan can make 12 interest-only payments instead of the full principle amount plus interest.

Student Loan Rates

The Smart Option Student Loan can be borrowed with fixed or variable rates, a feature that is comparable toother exclusive private loan programs available. This is especially favorable to the borrower in 2014’s current market of low interest loan availability.

One of the most important differences between Sallie Mae and other private loan lenders is the overall savings and superior customer service. There is no lowering of the interest rate for a private loan. However, It must be noted Sallie Mae’s already low interest rates on private loans save the borrower money over money time during repayment.

Repayment Terms

The repayment term of a Smart Option Student loan is 15 years, which is largely standard among private lenders, and there is no prepayment penalty. In fact, a borrower can arrange for an automatic payment, which reduces the rate amount by 25 percent.

Overall, Sallie Mae offers a good program for those who are looking for an attractive opportunity to get additional funds to meet the rising cost of higher education. They are known for excellent customer service. To reach Customer service by phone call toll-free 1(888) 272-5543, or review their published Contact Options listed on

Find loan status here if you've already applied with Sallie Mae. New applicants can sign up and apply online now at the Sallie Mae website here.