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 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 and ideal solution to help bridge the gap between federal loans and the cost of your education expenses.




The simple and smart school loan option for undergraduate students

Choosing our Smart Option Student Loan® as your undergraduate school loan solution offers various financial and educational benefits, including competitive interest rates, a choice of repayment options, and rewards for paying your undergraduate student loans on time while in school. Plus, you can borrow up to 100% of your school-certified costs of education (minimum $1,000).

Choice and Savings

  • Deferred Repayment Option. Make no payments during school—or pay as much as you'd like—for maximum flexibility.1
  • Fixed Repayment Option. Pay just $25 a month2 while in school1, and you can benefit from an average savings of over 10% on your total undergraduate loan cost, compared to our deferred repayment option.3
  • Interest Repayment Option. Pay interest while in school and you can enjoy average savings of over 20% on your total loan cost, when compared to our deferred repayment option.3

Competitive Variable and Fixed Loan Interest Rates

  • No origination fees and no prepayment penalties1

Get the money you need for school

  • Borrow up to 100% of your school-certified costs of education (minimum $1,000)

Rewards for paying on time

  • Get a Smart Reward® in your Upromise® account of 2% of your scheduled monthly payments that are made on time while in school, with the Interest or Fixed Repayment Options.4
  • Get a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.5

Graduated Repayment Period

  • The Smart Option Student Loan is the only private student loan offering a Graduated Repayment Period feature7, providing budget flexibility for graduating students. Students who graduate and maintain their Sallie Mae loans in good standing can request to make 12 interest-only payments instead of full principal and interest payments after their separation period8.

Tuition Insurance Benefit

  • Covers up to $5,000 of tuition and other expenses lost due to a covered medical withdrawal.9 This exclusive benefit is provided at no cost to you with loans that first disburse between July 1 and October 31, 2013.

Encouraging Responsible Borrowing

  • Sallie Mae has helped more than 30 million Americans pay for college since 1972. We encourage students and families to supplement savings by exploring grants, scholarships and federal student loans before they consider a Sallie Mae private education loan.

Rates and Terms

Interest Rates

  • Variable interest rates from 2.25% APR to 9.37% APR1
  • Fixed interest rates from 5.74% APR to 11.85% APR1
  • 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.5

Loan Limits

  • Borrow up to 100% of your school certified costs of education (minimum $1,000)


  • No origination fees

Repayment Terms

  • Choose the repayment option that works for you while you are in school - defer1 all payments, pay just $252 a month, or pay only the interest on your loan
  • Full principal and interest payments begin six months after you leave school for all repayment plans
  • No prepayment penalty, regardless of the repayment plan you choose

Encouraging Responsible Borrowing

  • National Education encourages students and families to supplement savings by exploring grants, scholarships and federal student loans before they consider a private education loan.


This information is for borrowers attending degree-granting institutions only. Credit criteria and eligibility requirements apply.

Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. APRs for borrowers attending non-degree-granting institutions may be different than APRs for borrowers attending degree-granting institutions, and there may be origination fees. Please go to SallieMae.com for up to date information regarding the terms for loans to borrowers attending non-degree-granting institutions. Origination fees mean application or disbursement fees. 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.

2 This informational repayment example uses typical loan terms available to a freshman borrower who elects the fixed repayment option and has a $10,000.00 loan with two disbursements and a 7.21% variable APR: 51 payments of $25 per month, 119 payments of $140.28 per month and one payment of $114.17, for a total paid of $18,082.49. Variable rates may increase after consummation.

Savings based on typical loan to a freshman.

4 Primary borrower can earn 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. Benefit and Upromise membership subject to the terms and conditions of the Upromise service, as may be amended from time to time. Upromise Accounts are not FDIC insured, carry no bank guarantee and may lose value.

5 Recurring payment must be successfully deducted from designated account for rate reduction to apply.  Benefit suspended during forbearances and certain deferments.

6 To qualify, borrower must be a U.S. citizen or permanent resident, and meet the underwriting requirements when the release request is processed.

7 Based on an 3/18/13 review of competitors loan programs and repayment features.

8 Available for loans that first disburse on or after July 1, 2013 to finance academic periods that begin on or after July 1, 2013 at a degree granting institution.  Graduated Repayment Period (GRP) requires interest payments for the initial 12 month period of repayment when you would normally begin making full principal and interest payments (which typically begins six months after graduation) or during the 12 month period after your request is granted, whichever is later.  At the time you request GRP, you must have graduated with no interruption in enrollment, be current on payments, and not have been late on payments on this or any other Sallie Mae serviced loans.  You may request GRP only during the two billing cycles immediately preceding and the two billing cycles immediately after your loan would normally begin requiring full principal and interest payments. GRP does not extend the term of the loan. If you are approved for GRP, your principal and interest payments will be higher than if GRP did not apply, and your total loan cost will increase.

9  The Tuition Insurance Benefit is tuition refund insurance that covers up to $2500 per semester ($5000 total per policy) and is available with loans that first disburse between 7/1/13 and 10/31/13. Borrowers are automatically enrolled at the first loan disbursement. Benefit must be activated within four months of first disbursement to receive twelve months of coverage. To process the benefit, your information will be shared with Sallie Mae Insurance Services, their underwriters, and their providers. If the loan is cancelled, coverage terminates. Individuals may be enrolled in only one Tuition Insurance Benefit at a time. Benefit is offered through Sallie Mae Insurance Services, a service of Next Generation Insurance Group, LLC, a licensed insurance producer. For insurance licensing information, click here. Coverage is underwritten by Markel Insurance Company,  Deerfield, IL; Administrative Office: Glen Allen, VA.

Terms and conditions apply to the Upromise service. Participating company, contribution levels and terms and conditions are subject to change at any time without notice. Go to upromise.com to learn more.

Smart Option Student Loans are made by Sallie Mae Bank® or a lender partner.

Information advertised valid as of 06/25/2013.


The Sallie Mae logo, Sallie Mae, Sallie Mae Bank, Smart Option Student Loan and Smart Reward are registered service marks of Sallie Mae, Inc.

Upromise and the Upromise logo are registered service marks of Upromise, Inc.



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