Margaret Blankers, MJB Public Relations Group
(866) 714-7041 • margaret@mjblankerspr.com
Tallahassee, Florida - Southeast Corporate Federal Credit Union announced today its arrangement with Sallie Mae® to offer the Smart Option Student Loan® program to member credit unions. This innovative loan product enables families to meet the rising cost of college while helping them graduate with less debt and pay off faster after graduation.
With the Sallie Mae Smart Option Student Loan, students pay interest while in school and graduate with less debt, compared to other longer-term private loan alternatives in which no payments are made until after graduation. A typical freshman can save 30 to 50 percent on finance charges over the life of the loan. With the loan’s shorter repayment period, a member can pay off the loan five to eight years faster after graduation, compared to a standard 15-year interest deferred private loan. The member may select either a $25 monthly in-school payment plan or opt to pay interest only while in school.
Designed to supplement a student’s federal student loans and other financial aid, the Smart Option Student Loan can help students cover up to 100 percent of their school-certified education expenses. Southeast’s Smart Option Student Loan by Sallie Mae features market-leading interest rates that reward responsible borrowers as they pursue their graduate or undergraduate degrees. Also available are benefits such as an on-time payment reward and interest-rate discounts for automatic payments.
“We are excited to partner with Sallie Mae Smart Option Student Loan program so that we can offer our member credit unions an affordable student loan alternative that in-turn, will save their members valuable dollars," said Brad Miller, President and CEO of Southeast Corporate. “It also opens the door for credit unions to establish a long-term financial partnership with young adults.”
To offer the Smart Option Student Loan, Southeast Corporate partnered with Sallie Mae, the nation’s leading saving, planning, and paying for college company. Since its founding nearly
40 years ago, the company has helped more than 31 million people make the investment in a higher education.
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Southeast Corporate is a corporate credit union serving over 400 credit unions throughout the southeast and nationally. |
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