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Let's Talk How Much ...

Do you have enough money for college? That's a big worry for many students and parents. But by calculating, budgeting and planning your college aid needs, you can find the funds you need for school.

Your first step is estimating how much funds you need. Then review options on where to raise additional money for school.

Add Up Your Costs   Enter $$$ You Now Have
Tuition   Stafford Loans
Housing-Food   PLUS Loans
Books-Supplies   Scholarships
Laptop-Software   Work Wages
Transportation   Other Gift Aid
Other   Personal Savings
Total Cost      
Total Aid      
Funds Needed   apply now

You Can Get Up to the full cost of college ... 2

... to pay for tuition, housing, computer, and other related college expenses

and save money, build up your credit, and payoff your loan faster.
  • low $25 fixed payments while in school and for 6 months after graduation.

  • That could save more than $6,000 1 as compared to a traditional 15-year payment deferred private student loan.

  • It's an ideal solution for funding up to 100% of your total cost of attendance 2 if you still need money for college.

The Smart Option ® Loan can be your money source for paying college expenses.

need additional funds for college

Need More Information

you can link to our private student loan module for a complete information on how private student loans can pay for education.

  • complete summary information
  • learn how best to quality
  • get your questions answered
need additional funds for college

Make Sure to Budget Your Spending

Just because you can borrow money doesn't mean you need to spend it all. Be careful with your spending so that you borrow only the money you need.

Our recommendation is to build a budget plan for college. Budget your aid sources and your monthly spending amounts. The budgeting plan will maintain a daily cash position for the academic year.

download our budgeting worksheet to your PC

link to our tool set for a demo on how to setup your budget: click here

Smart Option Loan Legal Information

1 $25/month fixed payment repayment option is available for new loan applications initiated on or after June 28, 2010, and is subject to change.  The savings example uses approximated numbers, is for informational purposes only and is an example of loan terms available through the Smart Option Student Loan. Savings is based on the following assumptions: A Smart Option Student Loan made to a freshman borrower at a degree granting institution of $10,000 with two disbursements and a 10.05% APR [Interest rate of LIBOR + 10.375% (LIBOR of 0. 375% as of 6/25/2010) and no origination fee or disbursement fee]. APR may increase after consummation. Repayment consists of 51 fixed $25/month payments (in-school period of 45 months plus separation period of 6 months), followed by 119 principal and interest payments of $179.79 per month and one payment of $115.65 for total payments of $22,786 (finance charge of $12,786). Compare against a traditional 15-year private student loan for $10,000 where payments are deferred during school and grace periods, an estimated APR of 9.97% and repayment consisting of 179 principal and interest payments of $162.11 per month and one payment of $41.83 (following a 45-month in-school period and 6-month grace period, after which accrued interest is capitalized) for total payments of $29,060 (finance charge of $19,060). 

2 Borrow up to the cost of attendance (minimum $1,000) as certified by your school and confirmed by Sallie Mae, less other financial aid received.  Sallie Mae reserves the right to approve a lower loan amount than what the school has certified.