Smart Option Student Loan® Details
Flexible student loans designed to meet your educational financing needs with multiple repayment options and competitive rates.
Up to 100% Coverage
Finance up to 100% of your school-certified expenses with flexible loan amounts tailored to your needs.
Multiple Repayment Options
Choose the repayment plan that works best for your financial situation and future goals.
Quick Credit Results
Get a credit decision in approximately 10 minutes with our streamlined application process.
Cosigner Release Available
Apply to release your cosigner after graduation with 12 on-time payments and meeting credit requirements.
Interest Rate Reduction
Save 0.25% on your interest rate when you enroll in auto debit monthly payments.
No Prepayment Penalty
Pay off your loan early without any additional fees or penalties whenever you're ready.
Loan Details Overview
| Collateral Requirements | Must be attending a participating institution. Cosigner option available to improve approval chances. Cosigner release available after 12 on-time payments post-graduation. |
|---|---|
| Loan Amount | Up to 100% of school-certified educational expenses, giving you complete coverage for your academic journey. |
| Interest Benefits | Receive a 0.25 percentage point interest rate reduction when enrolled in automatic monthly payments via auto debit. |
| Protection Features | Death and disability loan forgiveness included. No prepayment penalties allow flexible repayment at your own pace. |
Borrow Responsibly
Regions and Sallie Mae encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments and expected future earnings before considering a private student loan.