Sallie Mae Smart Option
- Obtain more details about the Smart Option student loan offer from Sallie Mae
- The loan offers three repayment options, variable or fixed interest rates, and a variety of other choices
- Interest rates associated with this offer generally range from 2.50% APR to 9.59% APR
The Sallie Mae Smart Option loan offer comes with a rate reduction of 0.25 percentage points if the customer enrolls in to have their monthly payment automatically debited from their checking or savings account. Cosigners are allowed and it may improve the customers APR if a parent or other creditworthy individual consigns the loan. The cosigner can be released from the loan once the following conditions have been met:
- The student has graduated from college
- They have made 12 on-time principal and interest payments
- Certain credit requirements have been meet (credit history cannot show any open bankruptcy cases, open foreclosure, or student loan(s) in default or 90 day delinquencies in the last 24 months)
Please note the rate reduction associated with the Sallie Mae Smart Option automatic debit program applies only during active repayment for as long as the Current Amount Due is successfully deducted from the designated bank account each month and is suspended during forbearances and certain deferments.
Sallie Mae Smart Option Comments
- Customers will receive a free FICO score on Sallie Mae Activity Center every quarter
- The FICO score can be viewed at the customers Sallie Mae online account activity center
- The program comes with a fix repayment option that allows the borrower to only pay $25 per month after graduation for the first 6 months (and while in school)
Any questions on regards to the Sallie Mae Smart Option loan program can be directed to 855-756-5626 or for questions about a current loan balance or payment please dial 800-472-5543. The Sallie Mae loan call center is open on Monday – Thursday 8:00 AM to 9:00 PM ET – Friday 8:00 AM to 8:00 PM ET – Saturday 9:00 AM to 6:00 PM ET… the Sallie Mae Smart Option call center is closed on Sundays and federal holidays.