With college costs growing fast, it's time to borrow smart. 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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Interest Repayment Option
Pay interest while in school and for six months after school. The in-school payments, plus our shorter repayment term, can help you save over 20% on your total loan cost compared to our Deferred Repayment Option.1
Fixed Repayment Option
Pay just $25 a month while in school and for six months after school.2 Taking advantage of our shorter repayment term can save you over 10% on your total loan cost compared to our Deferred Repayment Option.1
Deferred Repayment Option
Defer payments until after school, or pay as much as you want while in school, to enjoy maximum flexibility.3
Applying online is easy—it only takes about 15 minutes to apply and get a credit result.
You'll choose your repayment option during the application process.
Apply with a cosigner.
If a parent or other creditworthy individual cosigns the loan with you, it can lower your interest rate—and give you a better chance of approval.
- Enjoy competitive interest rates, no origination fees4 and no prepayment penalty.
- Enjoy competitive interest rates, no origination fees4 and no prepayment penalty.
Rates range from 2.37% APR to 9.48% APR.4
- Earn rewards for paying on time.5
- Earn rewards for paying on time.5
Choose the Interest or Fixed Repayment Option and get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school.
- Lower your interest rate.6
- Lower your interest rate.6
Get a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.
- Get the money you need
- Get the money you need
Borrow up to 100% of your school-certified education costs (minimum $1,000).
- Release your cosigner.7
- Release your cosigner.7
Apply to release your cosigner once you graduate and make 12 consecutive on-time principal and interest payments.
1 Savings based on typical loan to a freshman borrower attending a degree-granting institution.
2 The following repayment example is for informational purposes only and is an example of available loan terms of the Smart Option Student Loan with the Fixed Repayment Option: $10,000 loan with two disbursements, no grace, a disbursement fee of 0% and a 7.33% APR. APR made to a freshman borrower at a degree granting institution. APR is variable and may increase after consummation. Repayment consists of 51 fixed $25/month payments during the in school and separation period, followed by 119 payments of $141.66 per month and one payment of $114.67, for a total amount paid of 18,247.21. Origination fees mean application or disbursement fees. Interest rates are variable and may increase after consummation.
3 The Deferred Repayment Option is only available for degree-granting institutions. Unpaid interest will capitalize when the loan enters principal and interest repayment.
4 Interest rates on loans with the Fixed and Deferred Repayment Options are higher than rates on loans with the Interest Repayment Option. Rates and fees shown are available for borrowers attending degree-granting institutions only. APRs for borrowers attending non-degree-granting institutions range from 8.13% to 13.88% with an origination fee up to 5%. Origination fees mean application or disbursement fees. Interest rates are variable and may increase after consummation.
5 While a Upromise member, primary borrower (must be of age of majority - typically 18 years old) can earn reward into his or her Upromise account of 2% of the scheduled loan payment amount for each on time payment during the in school and separation periods. After two consecutive past due payments, the loan is no longer eligible for the reward. Benefit subject to the terms and conditions of the Upromise service (as may be amended from time to time), including without limitation, restrictions on conversion, transfer and redemption of rewards, reward denomination, including whether and under what circumstances the rewards have independent cash value, and terms relating to fees and/or the forfeiture of rewards. Upromise Accounts are not FDIC insured, carry no bank guarantee and may lose value.
6 Recurring automatic monthly payments must be successfully deducted from designated bank account for rate reduction to apply. Benefit suspended during periods of forbearance and certain deferments.
7 To qualify for cosigner release, borrower must meet age of majority requirements, be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.
Rates and other information valid as of December 27, 2011.
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 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.
Fifth Third and Fifth Third Bank are registered service marks of Fifth Third Bancorp. 
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