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:
- 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 they leave school. Not only can the in-school repayment options reduce
the total cost of the loan, they may also help a borrower build
credit.
- Allows members to earn a 0.25 percentage point interest rate
reduction when they enroll in and make monthly payments by
auto debit.3
- Easy and fast online application. Members can also manage their loans online, 24/7.
- Assists your members, when needed, with Sallie Mae’s
dedicated customer service and technical assistance centers.
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:
Marketing Poster
Marketing Email
Website
Content
Web Content –
Short version
Web Banner –
version 1 Web Banner –
version 2
Smart Option Student Loan® and graduate loans: Sallie Mae loans are subject to credit approval, identity verification, signed loan documents, and school certification. Smart Option Student Loans are for students at participating schools and are not intended for students pursuing a graduate degree. Graduate student loans are available for students at participating degree-granting graduate schools. Graduate Certificate/Continuing Education coursework is not eligible for MBA, Medical, Dental, and Law School Loans. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.
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 is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan.
3 The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This 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. It may be suspended during 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.
Information advertised valid as of 10/01/2022.
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.
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