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Members United partners with Sallie Mae
WARRENVILLE, Ill. (7/1/10)--Members United Corporate FCU, Warrenville, Ill., has partnered with Sallie Mae to provide the Smart Option Student Loan program to its member credit unions. The Smart Option Student Loan is a private student loan program offered through Sallie Mae. More than 30 credit unions have signed on to the product, with others evaluating it, Members United said. With the loan, students pay interest while in school, graduate with less debt, and pay off their loans faster than in longer-term private loan alternatives that have no payments until after graduation. Private student loans help students and families cover the full cost of attendance after they have maximized scholarships, grants and federal assistance, the corporate added. Sallie Mae underwrites, funds and services all Smart Option loans. Participating credit unions serve as the referral point through a link on their website. Sallie Mae provides support and marketing materials, including e-mail campaigns, printed pieces, online advertisements and co-branded loan applications.


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