We encourage students and households to start out with financial savings, grants, scholarships, and federal student loans to pay for school. Students and households ought to consider all anticipated month-to-month loan funds, and the way a lot the student expects to earn sooner or later, earlier than contemplating a non-public student loan.
These loans are made by Sallie Mae Bank or a lender companion. South Florida Educational Federal Credit Union isn’t the creditor for these loans and is compensated by Sallie Mae for the referral of loan clients.
Smart Option Student Loan and graduate loan merchandise: This data is for students attending collaborating degree-granting colleges. Smart Option Student Loan data is for undergraduates solely. Graduate Certificate/Continuing Education coursework isn’t eligible for MBA, Medical, Dental, and Law School Loans. Borrowers should be U.S. residents or U.S. everlasting residents if the varsity is situated outdoors of the United States. Non-U.S. citizen debtors who reside within the U.S. are eligible with a creditworthy cosigner (who should be a U.S. citizen or U.S. everlasting resident) and are required to offer an unexpired government-issued picture ID to confirm id. Applications are topic to a requested minimal loan quantity of $1,000. Current credit and different eligibility standards apply.
Parent Loan: This data is for debtors with students attending collaborating degree-granting colleges. The student isn’t eligible to be a borrower or cosigner. The borrower, cosigner and student should be U.S. residents or U.S. everlasting residents. The faculty could refund loan funds on to the student, and if that happens, borrower, and cosigner (if relevant) would nonetheless be accountable for repaying that quantity. Applications are topic to a requested minimal loan quantity of $1,000. Current credit and different eligibility standards apply.
1Although we don’t cost you a penalty or payment should you prepay your loan, any prepayment might be utilized as supplied in your promissory notice: First to Unpaid Fees and prices, then to Unpaid Interest, after which to Current Principal.
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