Parent and education loan contrast chart. Select the loan that is suitable for you along with your pupil
You’ll help your student that is undergraduate pay university either by cosigning a Smart choice Student Loan ® or taking right out a Sallie Mae ® Parent Loan in your title. Both offer choices for the way you repay the mortgage, no origination cost, and certainly will cover as much as 100% associated with school-certified price of attendance at a degree-granting organization.
Smart Choice Education Loan ® for Undergraduate Students | Sallie Mae Parent Loan | |
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You cosign the mortgage and share the duty of paying it back together with your pupil | you are taking the mortgage out in your name that is own and in charge of having to pay it right back | |
Primary debtor |
Student | Any adult that is creditworthymoms and dad, guardian, spouse, relative, or buddy) |
Adjustable rate* |
2.75% APR – 10.65% APR | 5.00per cent APR – 11.62% APR |
Fixed rate* |
4.74% APR – 11.85% APR | 5.49percent APR – 12.87% APR |
Alternatives for trying to repay |
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Principal and interest payment term. Graduated Repayment Period available |
5 – 15 years of principal & interest repayments | a decade of principal & interest repayments |
More features *Lowest prices shown are the car debit discount |