Competitive rates1 • No origination fees

• Competitive rates¹

• No origination fees for borrowers attending degree‐granting institutions²

• Borrow what you need—up to 100% of your education costs³

• Smart Reward^SM—earn 2% of your scheduled monthly payment as a reward in your Upromise account when you make payments on time while in school⁴

• Earn a 0.25 percentage point interest rate reduction while enrolled to make monthly payments by automatic debit⁵

• Save hundreds—even thousands—of dollars over traditional 15‐year payment‐deferred private student loans

• Flexible repayment options—choose affordable fixed payments of $25 a month or make full interest payments to save even more⁶

• Applying with a creditworthy cosigner may help you qualify for and/or receive a lower interest rate

• You can apply to release your cosigner after graduating and making just 12 consecutive on‐time principal and interest payments⁷

You must attend an eligible school and be enrolled in an eligible program. U.S. citizens enrolled in eligible study abroad programs or studying at medical schools outside the United States are also eligible. International students are eligible with a creditworthy cosigner (who must be a U.S. citizen or permanent resident) and appropriate U.S. Citizenship and Immigration Service documentation.

4. The 2% reward is available during initial in-school and separation period only. If borrower leaves school but returns later, the reward will not be available for any subsequent in-school period. Primary borrower must be of the age of majority in his or her state of residence (typically 18 years old) and must indicate current Upromise membership or enroll in Upromise at the time of loan application. To be eligible to receive the 2% reward, the borrower may not have had two consecutive scheduled payments past due on the loan for which the benefit is available. If the borrower has two consecutive scheduled payments past due, he or she will no longer be eligible for the reward on that loan. If all conditions are met, primary borrower will earn 2% of the scheduled payment amount in Upromise rewards into his or her Upromise account for each on time payment. The 2% reward is not earned on payment amounts in excess of the scheduled payment. Benefit is subject to the terms and conditions of the Upromise service (as may be amended from time-to-time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards. Benefit available on eligible loans first disbursed on or after June 1, 2010.

Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank® or a lender partner. Borrower benefit information valid as of