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CU System
Corporate One reaches milestone in Sallie Mae student loan program
COLUMBUS, Ohio (11/12/10)--Corporate One FCU has received its 100th contract for Sallie Mae’s Smart Option Student Loan program from Jeep County FCU, Holland, Ohio. Corporate One FCU began offering the referral-based Smart Option Student Loan program in June 2010. A Corporate One release said credit unions’ “positive and overwhelming response” to the program reflects recent changes to the student loan system as well as the need for student loan solutions to offer to members paying for higher education. Smart Option loans are underwritten, funded and serviced by Sallie Mae, which also offers support and marketing materials. Participating credit unions provide referrals primarily through a website link. The Smart Option Student Loan allows students to make payments while in school so they can graduate with less debt and pay off loans earlier when compared to other private loan alternatives that delay payments until after graduation. The program is targeted at students and families seeking private student loans to help cover college costs after they have maximized scholarships, grants and federal assistance.


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