Private Education Loan - Smart Option Student Loan - Application And Solicitation Disclosure - Variable Rate Type Page 4
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406/26/2017
Rev #: 01
Federal Loan Alternatives
Loan Program
Current Interest Rates by Program Type*
PERKINS
5.000% fixed
for Students
You may qualify for Federal education
loans.
4.450% fixed Undergraduate subsidized and
STAFFORD
For additional information, contact your
unsubsidized
for Students
school's financial aid office or the
6.000% fixed Graduate
Department of Education at:
PLUS
7.000% fixed Federal Direct Loan
for Parents and
Graduate/Professional
Students
*These interest rates are determined by federal law and are fixed for the life of the loan. The federal loan interest rates may change in the future, but only for new federal loans. Federal law may
also change in the future. To learn more, go to:
Next Steps
1. Find Out About Other Loan Options.
Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school's financial aid office or visit the
Department of Education's website at: for more information about other loans.
2. To Apply for this Loan, Complete the Application and the Self-Certification Form.
You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms
will not change during this period, except as permitted by law).
REFERENCE NOTES
Fixed Interest Rate
This loan has a fixed interest rate and will not increase or decrease for the life of the loan.
Eligibility Criteria
Borrower
You must attend an eligible school, be an undergraduate student, or attending an eligible associate, bachelors, graduate or technical/trade program at least half-time. In
some circumstances, the Smart Option Student Loan is available to less-than-half-time students and students enrolled in a c ontinuing education program.
Must have attained the age of majority in your state of residence at the time of loan application. Otherwise a cosigner is re quired.
Cosigner
A cosigner is not required for U.S. citizens and permanent residents, but may help you qualify and/or receive a lower interest rate.
Must have attained the age of majority in their state of residence at the time of loan application.
Bankruptcy Limitations
If you file for bankruptcy you may still be required to pay back this loan.
More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and Promissory Note.
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