¹The release of a cosigner is at the sole discretion of Sallie Mae. The borrower must have a satisfactory history of making principal and interest payments, meet age of majority requirements and meet underwriting requirements when the request for cosigner release is processed. The borrower's account must remain current until the request for release is processed and the borrower must be a U.S. citizen or permanent resident at the time the cosigner release is processed.

²The automatic debit benefit is available for as long as the monthly payment amount is successfully deducted from the designated bank account. Borrowers can elect to make payments via automatic debit through Sallie Mae's online account management system. This benefit lowers the loan's interest rate but does not change the amount of the monthly payment. This benefit is suspended during periods of forbearance and certain deferments.

³Upromise account balances of $25 or more can be transferred to help pay down eligible linked student loans on a quarterly basis. To view whether or not a loan is eligible to participate in the Upromise Loan Link program, please visit Upromise.com/LoanLink. Access to Upromise is not limited to Sallie Mae loan customers.

⁴All loan fees are capitalized (added to the loan principal).

⁵During the period in which you are enrolled in school (the "school period") and for 6 months thereafter (the "separation period"), consecutive monthly payments of interest will be due. Thereafter, your monthly payments will consist of both principal and interest.

⁶Based on private student loan of similar amount with the same interest rate. Traditional loans do not require the accrued interest to be paid during the school or separation period; unpaid interest is capitalized (or added to the loan balance) at the end of the separation period. Traditional loans also often have a longer repayment period.

Sallie Mae Smart Option Student Loans are made by Sallie Mae Bank^® or a Sallie Mae lender partner.

Borrower benefit information valid as of October 26, 2009.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES AND BORROWER BENEFITS (INCLUDING INTEREST RATE REDUCTIONS) AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN APPLICATION DATE AND AGAIN PRIOR TO DISBURSEMENT TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES AND BORROWER BENEFITS.