Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. APRs are higher for borrowers attending non-degree granting institutions and may include origination fees. Origination fees mean application or disbursement fees.
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.
Choice Plus Savings:
Interest Repayment Option. Pay interest while in school and have a shorter repayment period after school and you can save over 20% ($5,000) on your total loan cost compared to our deferred repayment option.
Fixed Repayment Option. Pay just $25 a month2 while in school and have a shorter repayment period after school and you can save over 10% ($2,000) on your total loan cost compared to our deferred repayment option.
Deferred Repayment Option. Make no payments while in school-or pay as much as you'd like-for maximum flexibility.
Competitive Interest Rates:
Rates from LIBOR + 2.00% (2.25% APR) to LIBOR + 9.88% (9.37% APR).
No origination fees and no prepayment penalties.
Rewards for paying on time:
Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school with Interest or Fixed Repayment Options.
Get a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
Get the money you need for school:
Borrow up to 100% of your school-certified costs of education (minimum $1,000)
Wilkes-Barre, PA 18773-9555
For more details https://www.salliemae.com/student-loans/