Student Loan Program

Help your Members Pay for College –
Loans for Undergraduates, Graduate Students and Parents

Catalyst Corporate provides credit unions with a private student loan referral program through its partnership with Sallie Mae®. A suite of education loans – created specifically for the needs of undergraduate and graduate students and their parents – can help your credit union retain and grow member relationships as a complement to student checking, debit cards, online banking, auto loans and your complete suite of financial products.

Benefits to your Credit Union:

The Sallie Mae suite of loans expands your credit union’s product line at no cost or funding:
  • Offers high-value products that can attract and help retain valuable members
  • Generates fee income per originated loan without any upfront investment from your credit union

Benefits to your Members:

  • Makes money available that students need for college. After maximizing scholarships and federal loans, they can borrow up to 100 percent of the school-certified expenses like tuition, fees, books, housing, meals, travel, and even a laptop.1
  • Offers the choice of competitive fixed or variable interest rates.
  • The undergraduate and graduate loans let members choose from three simple repayment options,2 including making monthly interest payments while in school, paying a fixed amount each month while in school, or deferring payments until after graduation. Members can choose the repayment option that fits their needs. Not only can the in-school repayment options reduce the total cost of the loan, they may also help a borrower build credit. Different repayment options are available for the Parent Loan.
  • Allows members to earn a 0.25 percentage point interest rate reduction when they enroll in and make monthly payments by auto debit.3
  • Makes applying online easy – it only takes about 15 minutes to apply and get a credit result.
  • Assists your members, when needed, with Sallie Mae’s dedicated customer service and technical assistance centers. Members can also manage their loans online, 24/7. 
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Student Loan Resources:

Credit unions partnering with Sallie Mae through Catalyst Corporate have online access to a full complement of marketing resources. A small sampling is available below:

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Undergraduate and graduate loans: This information is for students attending participating degree-granting schools. Smart Option Student Loan information is for undergraduates only. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Borrowers must be U.S. citizens or U.S. permanent residents if the school is located outside of the United States. Non-U.S. citizen borrowers who reside in the U.S. are eligible with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and are required to provide an unexpired government-issued photo ID to verify identity. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Parent Loan: This information is for borrowers with students attending participating degree-granting schools. The student is not eligible to be a borrower or cosigner. The borrower, cosigner and student must be U.S. citizens or U.S. permanent residents. The school may refund loan funds directly to the student, and if that occurs, borrower and cosigner (if applicable) would still be responsible for repaying that amount. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. 

1 Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half time.
2 Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You’re charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan’s Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan.
3 Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. This benefit may be suspended during periods of forbearance or deferment, if available for the loan.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
Sallie Mae loans are made by Sallie Mae Bank or a lender partner.
Information advertised valid as of 04/25/2019.
Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.
© 2019 Sallie Mae Bank. All rights reserved. SMPC MKT14227 0519