- IE Financial Aid Blog - https://financialaid.blogs.ie.edu -

Attention US Students: Sallie Mae has new Smart Option Student Loan rate plans.

Sallie Mae® is now offering IE students more choice and flexibility on the Smart Option Student Loan. Beginning with applications initiated on or after Monday, May 21, students attending IE will be able to choose from either a fixed or variable interest rate, in addition to the repayment option that best fits their needs.

Keep in mind there are no origination fees and there is no prepayment penalty for early repayment of the loan.

The rate options are as follows:

Low Variable Interest Rates:

Interest Repayment Option: LIBOR+2.0% (2.25% APR) to LIBOR+8.875% (9.11% APR)
Fixed Repayment Option: LIBOR+2.5% (2.75% APR) to LIBOR+9.375% (9.09% APR)
Deferred Repayment Option: LIBOR+3.0% (3.17% APR) to LIBOR+9.875% (9.37% APR)
Competitive Fixed Interest Rates:

Interest Repayment Option: 5.75% (5.74% APR) to 11.875% (11.85% APR)
Fixed Repayment Option: 6.25% (6.08% APR) to 12.375% (11.43% APR)
Deferred Repayment Option: 6.75% (6.41% APR) to 12.875% (11.69% APR)