Eligibility of
Borrower/
Co-Signer

• Student or cosigner must be a US citizen or permanent resident
• Student must be enrolled in a degree seeking or certificate program
• Student must be enrolled less than half time, half time or full-time status

• US citizen or permanent resident

• International students may apply with an eligible US Citizen or permanent resident co-signer

• At least 18 years of age

• Positive credit history

• New flexible credit evaluation guidelines

• May be enrolled less than half-time, half-time or full-time status

• Age of majority in student's state of residence; Missouri's is 18 years old

• Degree seeking student

• Borrower must meet credit requirements or provide a creditworthy co-signer
• International students are eligible to apply with a creditworthy US  co-signer (must be a US citizen or permanent resident) and applicable CIS documents

Annual Limits: Maximum  

Minimum

Cost of attendance less other aid  

$500

Cost of attendance minus Financial Aid 

 $1,000 for new borrowers

Cost of attendance minus Financial Aid 

 $1,000

3-month LIBOR + 4.75% to 3-month LIBOR + 11.75%

Based on borrower and co-signer credit review

Prime plus 1.0% to Prime + 7.5%
Based on credit review and co-signer presence

One creditworthy individual:  1-Month LIBOR + 5.75% to 1-Month LIBOR + 11.5%
Two creditworthy individuals:  1-Month LIBOR + 5.75% to 1-Month LIBOR + 10.5%

Based on borrower or co-signer credit 

 None

0.00% to 6.00% based on credit review

Zero to 3% disbursement fee; No repayment fee

 Up to 20 year term for amounts up to $30,000 and up to 25 year term for amounts of $30,000 or more

Up to 20 years

 Standard repayment term of 15 years, with option to extend up to 30 years for higher aggregate loan balances

•  0.25% interest rate reduction for having principal and interest payments automatically debited from a bank account
• 0.25% interest rate reduction for choosing to make immediate payments of interest-only or principal and interest
• Combined billing available for all loans serviced by Chase
• Cosigner release option available if borrower meets all credit terms

• 48 consecutive on-time monthly payments will lower interest rate by 0.50%

• Loan payments withdrawn automatically from bank account will lower interest rate by 0.25%

• Co-Signer release option is available after 24 months

• Loans can be certified for prior balances up to 12 months in the past

• Interest-only payments while the borrower is in school to avoid capitalized interest 
• Borrowers may apply for cosigner release option after successful completion of their education
• Sallie Mae Smart Option Loan Link service can help students and families pay down student loans
• 0.25 % interest rate reduction with automatic-debit payments
• 0.25% interest rate reduction is available if the borrower provides a valid e-mail address and elects to receive all servicing communications via e-mail
• Pay a Little Now, Save a Lot Later