With college costs growing fast, it's time to borrow smarter. The Smart Option Student Loan funded by Fifth Third Bank offers three repayment options and competitive interest rates to help you pay for college expenses not covered by scholarships and federal loans.
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PAY MORE. SAVE MORE.
INTEREST REPAYMENT OPTION
Pay interest while in school and for six months after school. You can save over 20% on the total loan cost compared to our Deferred Repayment Option by choosing this option.1
PAY A LITTLE NOW. SAVE A LOT LATER.
FIXED REPAYMENT OPTION
You can save over 10% on the total loan cost compared to our Deferred Repayment Option1; pay just $25 per month2 while in school and for six months after school.3
GET MAXIMUM FLEXIBILITY.
DEFERRED REPAYMENT OPTION
No minimum payments are required while in school, but you can pay as much or as little as you want while in school for maximum flexibility.3
APPLYING ONLINE IS EASY—IT ONLY TAKES ABOUT 15 MINUTES.
You'll choose your repayment option during the application process.
A Cosigner Can
Really Pay Off.
If a parent or other creditworthy individual cosigns the loan with you, it may give you the opportunity for a lower interest rate—and increase your chance of an approval.
Release your cosigner.4
Apply to release your cosigner once you graduate and make 12 consecutive on-time principal and interest payments.
Click text below for information.
- Enjoy competitive interest rates, no origination fees and no prepayment penalty.3
- Enjoy competitive interest rates, no origination fees and no prepayment penalty.3
Get variable interest rates that range from 2.25% APR to 9.37% APR. We also offer competitive fixed interest rates that range from 5.74% APR to 11.85% APR.
- Ability to earn rewards for paying on time.5
- Ability to earn rewards for paying on time.5
Choose the Fixed or Interest Repayment Option and get a Smart Reward® in your Upromise® account of 2% of your scheduled monthly payments that are made on time while in school. For more information on the Upromise account, visit www.upromise.com.
- A lower interest rate.6
- A lower interest rate.6
You can receive a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
This information is for borrowers attending degree-granting institutions only. Eligibility requirements apply.
1 Savings based on a typical loan to a freshman.
2 This informational repayment example uses typical loan terms available to a freshman borrower who elects the Fixed Repayment Option and has a $10,000 loan with two disbursements and a 7.21% variable APR: 51 payments of $25 per month, 119 payments of $140.28 per month, and one payment of $114.17, for a total paid of $18,082.49. Interest is charged while you are in school and during the 6 month separation period. Any interest that remains unpaid when you enter full repayment will be added to your loan balance.
3 Interest rates for the Fixed and Deferred Repayment Options are higher than for loans with the Interest Repayment Option. APRs for borrowers attending non-degree granting institutions range from 7.99% to 13.62% with an origination fee up to 5%. Origination fees mean application or disbursement fees. Variable rates may increase prior to or after disbursement. Rates and fees may vary based on creditworthiness of the borrower and cosigner, as applicable.
4 To qualify, borrower must be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
5 Primary borrower can earn reward into his or her active Upromise account of 2% of the scheduled loan payment amount for each on time payment during the in school and separation periods. Loan payments must remain current to be eligible for the reward. Benefit and Upromise membership subject to the terms and conditions of the Upromise service, as may be amended from time to time. Upromise Accounts are not FDIC insured, carry no bank guarantee and may lose value.
6 Recurring payment must be successfully deducted from designated account for rate reduction to apply. Benefit suspended during forbearances and deferments.
Information advertised valid as of 10/25/2012.
All loans subject to credit review and approval.
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/or Immigration Service documentation. You must meet current credit and other eligibility criteria. Smart Option Student Loans are funded by Fifth Third Bank. All loans are subject to credit review and approval.
FIFTH THIRD BANK 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 FIFTH THIRD 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.
Sallie Mae, Smart Reward, and Smart Option Student Loan are registered service marks of Sallie Mae, Inc. Upromise is a registered service mark of Upromise, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc. and Upromise, Inc., are not sponsored by or agencies of the United States of America.
Fifth Third Bank, Member FDIC. 
Equal Housing Lender