American Heritage Smart Option Student Loan®: Backed by Sallie Mae®
A college education is more important than ever – but the cost of college continues to rise. That’s why American Heritage has partnered with CU Student Help to offer the Smart Option Student Loan®, a program funded by US government agency, Sallie Mae®. The Smart Option Student Loan® offers competitive interest rates and multiple repayment options.
The Smart Option Student Loan® provides funding for students and their families to cover the gap between college expenses and any scholarships or federal loans the student has earned. The Smart Option Student Loan® also helps students save money, pay off their student loan quicker, and build a positive credit history in the process.
The Smart Option Student Loan® features and benefits:
- Borrow up to 10 percent of your school-certified cost of attendance*
- A choice of competitive rates for undergraduate students
- Variable interest rates from 2.25 percent to 9.37 percent APR*
- Fixed interest rates from 5.74 percent to 11.85 percent APR*
- Low rates for graduate students
- Variable interest rates from 2.25 percent to 7.27 percent APR*
- Fixed interest rates from 5.74 percent to 8.56 percent APR*
- No origination fees and no prepayment penalty
- Lower rate with automatic debit – students who schedule automatic debits of their payments receive a 0.25 percentage point reduction in their rate*
- Smart Reward® Cash Back – Students who join the free Upromise program and choose either the Fixed or Interest repayment option can get a Smart Reward of 2 percent of their monthly payment, as long as they are in school and make their scheduled monthly payments on time*
- Pay now or pay later – Choose an in-school payment plan that fits your budget or defer your payments until after you leave school*
- Graduated repayment period - Students who graduate and have Sallie Mae loans in good standing can request 12 interest-only payments, instead of full principal and interest payments*
- Cosigner release - After graduation and a period of 12 consecutive, on-time payments of principal and interest payments and meeting certain credit requirements, a student can apply to have his or her cosigner released from the loan*
- Applicants will have a credit result in about 15 minutes!
*Terms, conditions and limitations apply. The Sallie Mae referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan® customers. For important information, Click here
As with any loan, American Heritage encourages its members to do their homework before borrowing money for college: consider the total debt for the loan, the anticipated monthly payments, and the higher level of earnings the student may earn as an adult with a college education. Also explore grants, scholarships and federal and state sources for student loans.
For more information on the Smart Option Student Loan®, click here.