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 Smart Option Student Loan Program

The Sallie Mae® Smart Option Student Loan® Program
More information
For more information about the Smart Option Student Loan Program, click here.
VOLCORP is proud to offer members a Student Loan referral program that makes better sense than ever. VOLCORP’s Smart Option Student Loan program removes all of the risk and allows your credit union to earn fee income while helping your members meet their needs.

An estimated 22 million students were due to enroll in U.S. colleges1 during the past year, requiring approximately $8.35 billion in private student loans2.

With today's college costs, federal financial aid is often not enough for a family to cover the full cost of higher education. The Smart Option Student Loan is a private education loan that you can offer members to help bridge the gap of expenses not covered by scholarships and federal loans.

Benefits for your credit union:

  • Expands your credit union's product line at no cost or funding, while offering a high-value product to attract and retain valuable customers.
  • Generates fee income per originated loan without any upfront investment from your credit union.
  • Offers easy program activation on your website within a few weeks.

Benefits for your credit union members:

  • Helps families get the money they need for college; after maximizing scholarships and federal loans, they can borrow up to 100% of school-certified cost of attendance.3
  • Offers competitive fixed or variable interest rates.
  • Offers a choice of three simple repayment options, including monthly interest-only or fixed monthly payments while in school and during the six-month separation period, or deferred payments until after school, for degree-granting institutions.4
  • Gives members the opportunity to earn a Upromise® Smart Reward®5 for making scheduled monthly payments on time while in school and a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.6
  • Features an easy application process: it only takes about 15 minutes to apply and get a credit result.
  • Provides customer service and technical support from Sallie Mae, plus 24/7 online loan management through the activity center.

Encouraging Responsible Borrowing.

We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

Assist your members with paying for college the smart way with the Smart Option Student Loan by Sallie Mae.

Start today

If your credit union is interested in participating in the Smart Option Student Loan program, please contact the Marketing Department at (800) 470-3444 or (615) 232-7900, extension 3 or email marketing@volcorp.org.

Read complete details and disclosures here.

Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United
States Government. National Credit Union Administration,
a U.S. Government Agency.

America's Credit Unions