Undergraduate Student Loans
Welcome to the best loan option for school
Our Smart Option Student Loan® gives you the money and tools you need for your undergraduate journey.
Lowest rates shown include the auto debit discount. Only the most creditworthy applicants who choose the interest repayment option may receive the lowest rate.
Convenient
Focus on college, not how to pay for it
- Save time—apply once for money for the whole year.
- Apply again each year—97% of undergraduate students who’ve been approved were approved again when they returned with a cosigner the following year.footnote 2
Comprehensive
We've got you covered
- We’ll work with you to help you get the money you need to pay for undergraduate costs—bigger ones like tuition and housing, and smaller ones like books and a laptop.footnote 3
Customized
Repay in a way that meets your needs and save
- Get a 0.25 percentage point interest rate reduction when you pay by auto debit.footnote 4
- Lower your interest rate when you choose in-school repayment.
- No prepayment penalty or origination fees. You can pay off your undergraduate student loan as early as you’d like to reduce your total loan cost.footnote 5
How to apply
It’s easy, just follow these steps:
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Tell us about yourself
We’ll need some basic information from you (and your cosigner if you’re applying with one) like your name, address, and date of birth, along with some details about your school.
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Choose your loan option(s)
After you’re approved, pick the repayment option and interest rate type that work best for your budget.
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Sign & accept
Be sure to review all loan documents so you understand your responsibilities. Once you’ve decided to borrow from us, just e-sign and accept your loan. We'll work with your school to take care of the rest. That's it!
Find the type of interest rate that’s
best for you
Your interest rate is the amount you’re charged for borrowing money. It’s based on factors like your borrowing/repayment history, how long you’ve had credit, and your amount of debt.
With a Smart Option Student Loan for undergraduate students, you can choose an interest rate type that’s fixed or variable.
Lowest rates shown include the auto debit discount.
How it works
Your interest rate does not change over time.
This might be right for you if
You want a predictable monthly payment to make budgeting easier.
Lowest rates shown include the auto debit discount.
How it works
Your interest rate does not change over time.
This might be right for you if
You want a predictable monthly payment to make budgeting easier.
Lowest rates shown include the auto debit discount.
How it works
Your interest rate may go up or down as the loan’s index changes.
For more information about the index of your loan, refer to your promissory note. Changes in the financial markets may cause the index to rise or fall.
Keep in mind
Your payments may vary over time. If you’re looking for a predictable monthly payment, a variable rate might not be for you.
Lowest rates shown include the auto debit discount.
How it works
Your interest rate may go up or down as the loan’s index changes.
For more information about the index of your loan, refer to your promissory note. Changes in the financial markets may cause the index to rise or fall.
Keep in mind
Your payments may vary over time. If you’re looking for a predictable monthly payment, a variable rate might not be for you.
What are your repayment options?
You can start paying back your undergraduate loan while you’re in school to save money or wait until you’re finished. You can also choose to pay off your loan early to reduce the total loan cost—there are no penalties for early repayment.footnote 5
Pay more during school, save more
How the interest repayment option works:
You pay your monthly interest while in school and during your 6-month grace period to lower your loan cost.footnote 1 For example, as a freshman you may save 13%footnote 6 on the total loan cost if you choose this option instead of paying everything after school.
Your grace period is the amount of time after you’re no longer enrolled in school and before principal and interest payments begin.
This may be right for you if
You want to reduce your total loan cost as much as possible and can afford to pay more each month during school.
Keep in mind
Your undergraduate student loan payments will likely be larger while you’re in school and in your grace period than with our fixed or deferred options.
Pay some during school, save some
How the fixed repayment option works:
You pay $25 a monthfootnote 7 while in school and during your 6-month grace period to lower your loan cost.footnote 1 For example, as a freshman you may save 6%footnote 6 on the total loan cost if you choose this option instead of paying everything after school.
Your grace period is the amount of time after you’re no longer enrolled in school and before principal and interest payments begin.
This may be right for you if
You want to reduce your total loan cost and can afford to pay $25footnote 7 every month during school.
Keep in mind
Your total loan cost will be less than with our deferred option, but the unpaid interest will be added to your principal amount at the end of your grace period.
Pay everything after you finish school
How the deferred repayment option works:
You don’t make your first payment until both your time at school and 6-month grace period have ended.footnote 1
Your grace period is the amount of time after you’re no longer enrolled in school and before principal and interest payments begin.
This may be right for you if
You want to have as much money available to you while you’re in school.
Keep in mind
You’re likely to pay more for the total cost of the loan compared to the other repayment options.
Get in touch!
Need assistance? We’re here to help.