- Deferred repayment: Borrowers don't have to make payments during school if they don't want to.
- Fixed repayment: The program allows borrowers to pay back as little as $25 per month while in school, which Sallie Mae says can curb 10% of your total student loan bill. Normally, college loans are paid off after the student graduates.
- Interest repayment: If you really want to get ahead of your student loan debt, the smart loan allows you to pay the interest on your college loan while you're still in school. That can save 20% off total student loan debt, Sallie Mae says.
- Cash back on timely loan payments: The Sallie Mae smart loan takes a page out of the credit card playbook and gives you 2% cash back on monthly payments made on time while you are in school.
- Lower interest for automatic payments: If you set up automatic payments with Sallie Mae, the lender will slice 0.25% off your loan interest rate.
Students Like Paying Back Sallie Mae's 'Smart Option' Package
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