Undergraduate Private Loans
What are the benefits of Undergraduate Private Loans?
What are the features of Undergraduate Private Loans?
Students specially undergraduate students become very serious about their studies after completing their elementary and school education. It is true that everything is getting costly now and generally our parents can’t afford if we there are other kids too in our family who also need education. This is a tough time for most of the families. But the solution is present in the form of Undergraduate private loan.
StudentLoans.com provides you valuable tools that assist you to locating a lender to meet all your educational financing needs. It is the website of Brazos Education Service Corporation Inc (Brazos). It is a non-profit company whose founders are established in this industry for more than 30 years. They are giving the Sallie Mae Smart Option Student loan which is an undergraduate private loan.
Benefits
The benefits of Sallie Mae Smart Option Undergraduate Student loan are:
- Pricing that rewards creditworthy borrowers
- With a creditworthy cosigner you qualify to get low interest rates
- After successful completion of the course, the borrower (you) can apply for the cosigner release
- 0.25% point interest rate deduction on automatic debit
- 0.25% point interest rate deduction if borrower provides valid email, address and elects to receive the communication via e-mail
Features
The features of Sallie Mae Smart Option Undergraduate Student loan are:
- Easy online application with quick credit decision and e-signature
- 24x7 online account management
- Combined billing available
- No penalty on prepayment
- You also be able to deduct the interest you pay on a qualified student loan
- All the U.S. citizens who are enrolled in eligible study abroad programs or study at medical schools outside U.S are eligible for this loan
- International students can get the loan with the help of cosigner who must be U.S citizenship
Loan Terms
- Loan Limit – Minimum $1,000 can be taken but you can borrow as much as you require i.e. up to the cost of education minus other previous aid.
- Interest Rate – Apply with a cosigner having creditworthy records make you receive lower interest rate. Sallie Mae Smart Option Undergraduate Student Loan has interest rates that reward good credit, interest rates are variable and reset monthly according to one month LIBOR index.
- Fees – Disbursement fee ranges from 0% to 5% with no repayment fee.
There are very simple eligibility options for the undergraduate private loan.
- You must attend an eligible community college, traditional colleges or other undergraduate program for at least half time
- Your credit history should be good
- If applying with cosigner then their credit records of cosigner should be good enough for loan approval
- Some other guidelines should also be fulfilled in order to get fast loan approval