Smart Option Student Loan® Program

Is your credit union looking to attract the millennial generation?  Do you need a competitive student lending solution to grow your younger membership base?

This turnkey solution enables credit unions to expand their product line and generate fee income.  It is offered through Sallie Mae, the nation's leading saving-and-paying-for-college provider.  As members obtain student loans, the credit union receives payments for the referrals.  Meanwhile, the credit union's website does the majority of the work.

Your Credit Union's Benefits

  • It's free - No start-up or ongoing costs, giving your credit union the ability to offer a competitive solution without investing significant capital
  • No financial risk - Sallie Mae handles the qualification, underwriting and funding, giving you the ability to take the risk of funding student loans off the credit union's books
  • Generate revenue - You earn a 1% referral fee on all funded loans, providing your credit union a new option to generate revenue
  • Free marketing - Sallie Mae provides free co-branded marketing materials, offering your credit union a new innovative marketing tool to appeal to young members
  • Online application - Sallie Mae offers a link to place on your website, giving you and your members a seamless online application process

Your Members' Benefits

  • Members can defer payments until after school or pay as much as they want while in school, giving members flexibility
  • Competitive interest rates, providing members affordable solutions
  • Pay no origination fees, giving members simple loan products
  • Members can prepay their loan at any time with no penalty, enabling you to provide your members with unique solutions
  • Members can borrow up to 100% of school-certified cost of attendance

Sallie Mae has helped more than 30 million Americans pay for college since 1972.  We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state 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.

Getting Started

Take a few moments to explore the program on our website or call (800) 242-4747 to find out how Corporate Central's Smart Option Student Loan® Program can make your credit union money by helping your members achieve a higher education.

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Contact Details

    6262 South Lowell Place, Muskego, WI 53150
    (800) 242-4747
    (414) 427-3700