Private Student Loans

The Stephenson National Bank & Trust* Smart Option Student Loan® by Sallie Mae®
For borrowers attending degree-granting institutions.

No you can pay for college the smart way with three great repayment options and competitive interest rates.

The loan is an ideal solution to help you pay for college expenses not covered by scholarships and federal loans. To learn more or to apply, please get started here.

The Smart Option Student Loan features and benefits
  • A choice of competitive fixed and variable interest rates providing even more choice and flexibility.
  • No origination fees and no prepayment penalty.
  • Multiple in-school repayment options available.
  • Borrower benefits available - like rewards and interest rate reductions
  • Rates that reward creditworthy borrowers
  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate.
  • 24/7 online account management.
  • Lower rates for graduate students. The APRs on new Smart Option Student Loans can be lower than the APR on the PLUS Loan for Graduate Students with immediate repayment. Variable interest rates from 2.25% APR to 7.27% APR. Fixed interest rates from 5.74% APR to 8.56% APR. 1, 5, 7
  • A lower interest rate—Receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled payments by automatic debit. 3
  • Pay now or later—defer your payments until after school or choose an in-school repayment option that fits your needs. 1
  • Smart Reward® Cash Back—Students who become Upromise members (which is free to join) and choose the Interest or Fixed Repayment Option can get a Smart Reward in their Upromise account of 2% of their scheduled monthly payments that are made on time while in school. 2 
  • A quick credit result—Applying online is fast and easy. It only takes about 15 minutes to apply and get a credit result. 
  • Borrow up to 100% of your school certified education costs (minimum $1,000).
  • Graduated Repayment Period—The Smart Option Student Loan is the only private student loan offering a Graduated Repayment Period feature 6, providing budget flexibility for graduating students. Students who graduate and maintain their Sallie Mae loans in good standing can request to make 12 interest-only payments instead of full principal and interest payments after their separation period. 6

*We are compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1,2,3,4,5,6,7 Click here for important information. Terms, conditions and limitations apply