Originally called Student Loan Marketing Association, SallieMae is a publicly traded U.S. corporation with 40 years of experience in developing responsible education loans and innovative programs to help families start saving for college. It offers education loan options for undergraduates, graduate students, and professional students, as well as families with children in private K–12 schools. The loans are designed to help bridge the gap between personal resources and financial aid.

The Fund has contributed more than $125 million to address key barriers to college access and support the community. In addition to its Saving, Planning and Paying for College and Kids2College programs, the Fund also has supported:

  1. Paying for College Bus Tour
  2. Scholarships
  3. The Posse Foundation
  4. Deeper college awareness campaigns based on low-income and minority demographics

Their scholarship services include:
Undergraduate Smart Option Student Loan: It helps the student to design their loan as well as choose the competitive interest rates. It is an undergraduate school loan solution that offers various financial and educational benefits including competitive interest rates, a choice of repayment options, and rewards for paying the undergraduate student loans on time while in school.

Students can review their quarterly score by logging into their Sallie Mae account. They also receive access to the key factor(s) affecting their score and educational content to help them understand why viewing the Score is important. This free benefit is available to both borrowers and co-signers.

Students can also choose the deferred repayment option, in which they have to make no payments during school—or pay as much as they would like—for maximum flexibility. Or, they can choose the Fixed Repayment Option, in which they would pay just $25 a month while in school, and they can benefit from an average savings of over 10% on their total undergraduate loan cost, compared to their deferred repayment option.

Graduate Student Loan: It offers students undergoing their Master’s and Doctoral Programs value and choice of three repayment options. The rules for this loan are similar to that of the undergraduate smart option student loan. There are no origination fees and no prepayment penalties. The Smart Option Student Loan is the only nationwide private student loan offering a graduated repayment period feature, 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 period.

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