Sallie Mae Smart Option Student Loan
Sallie Mae Bank’s undergraduate loan, with borrowing and cosigner-release conditions worth checking closely.
Checked facts and conditions
Lender and amount
Sallie Mae Bank makes the loan. Direct applications may cover up to the school-certified cost of attendance minus other aid; applications through partner websites can have a lower maximum.
Source: Sallie Mae undergraduate loan disclosures ↓Interest during school
Interest starts accruing when funds are disbursed. With fixed or deferred payments, unpaid interest is added to principal after the grace period, increasing the balance on which interest is calculated.
Source: Sallie Mae undergraduate loan disclosures ↓Cosigner release
After graduation or program completion, borrowers may apply following 12 qualifying principal-and-interest payments, or the equivalent prepaid amount. In-school and grace-period payments do not count. Income, credit and account-history requirements also apply, including no hardship forbearance or modified repayment plan in the preceding 12 months.
Source: Sallie Mae cosigner-release requirements ↓Questions for your actual offer
- What amount will my school certify, and does my application channel affect the maximum?
- How much unpaid interest will be added to my balance before full repayment?
- Which payments count toward release, and what income and credit documents will be required?
Compare fixed and variable APRs separately, using the same amount and term. Review the final loan agreement for fees, total payments and cosigner obligations.
Provider sources
- Sallie Mae undergraduate loan disclosures ↗
Checked 2026-09-14
- Sallie Mae cosigner-release requirements ↗
Checked 2026-09-14