Looking for money to pay for college?

Finding a way to pay for college and navigating financial aid can be a daunting process. That's why Sallie Mae recommends a simple "1-2-3 approach" to help families pursue financing opportunities in the most economical order:

1) Look for free money – Seek out funds that don't have to be paid back. These funds come in the form of scholarships, grants, work-study and gift aid. Be sure to fill out the Free Application for Federal Student Aid (FAFSA) to see if you qualify for need-based federal grants. Sallie Mae's free Scholarship Search offers access to more than 3 million scholarships worth over $16 billion and is another way to find free money. You should also consider supplementing with your current income and money saved through a college savings plan, and explore an interest-free monthly payment plan.

2) Consider federal loans you may qualify for a federal loan with a fixed interest rate & flexible repayment options

3) Fill the gap with private education loans. Private student loans can help cover the rest of your college costs. Sallie Mae's Smart Option Student Loan® encourages you to make small payments each month or pay your monthly interest while in school so you graduate with less debt, pay off your loan faster, and save significantly over the life of the loan, compared to conventional private loans.

What are the rates? A choice of competitive interest rates for undergraduate students. Variable interest rates start from 4.00 APR to 10.86% APR1. We also offer fixed interest rates from 5.74% APR to 11.85% APR.1

Lower interest rates for graduate students. Variable interest rates start from 4.00% APR to 8.91% APR1. Fixed interest rates from 5.74% APR to 8.56% APR.1
Do I need a Cosigner? Applying with a creditworthy cosigner may help you qualify and/or receive a lower rate.

You may apply to release your cosigner from the loan after you graduate, make 12 on-time principal and interest payments and meet certain requirements.5
How much can I borrow? Borrow up to 100% of the school-certified cost of attendance.3
Are there any fees? No origination fee and no prepayment penalty
Lower the interest rate Receive a .25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit 2
When do I have to pay the money back? Pay now or later - Defer your payments until after school or choose an in-school repayment option that fits your needs.1
How long does it take to apply? Applying online is fast and easy. It only takes about 15 minutes to apply and get a credit result.
How long can I borrow the money? The Smart Option Student Loan was the first nationwide private student loan to offer a Graduated Repayment Period feature6, providing budget flexibility after you finish school. Students who maintain their Sallie Mae loans in good standing can request to make 12 monthly interest-only payments instead of full principal and interest payments after they finish school.7
What will I need to apply? You and your cosigner, if applicable should have the following information handy:
  • Permanent address and current address, if applicable, along with previous address information if you've lived at your permanent address for less than one year.
  • Social Security numbers of both the student and the cosigner, if applicable.
  • School information, including GPA and academic period of enrollment.
  • Loan amount requested, as well as other financial aid you expect to receive
  • Employment information
  • Financial information, including monthly mortgage or rent payments.
  • Name and contact information for two personal contacts (not required for cosigners).
Apply Today!

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.

* Abri Credit Union is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

This information is for borrowers attending degree-granting institutions only. You must be attending or have attended a participating school located in the U.S. during an eligible prior enrollment period. You must be a U.S. citizen or a permanent resident or a Non-U.S. citizen borrower with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and required U.S. Citizenship and Immigration Service (USCIS) documentation. U.S. citizens and permanent residents enrolled in eligible study abroad programs or who are attending or have attended schools located outside the U.S. are also eligible. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.


Information advertised valid as of April 25, 2018.

1,2,3,5,6,7 Click here for important information. Terms, conditions and limitations apply.

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