Signature Loans

Signature Loans Were A Popular Private Student Loan

Signature Loans were Sallie Mae’s flagship student loan for many years. One of the features of Signature Loans was that it allowed students to defer interest payments until after graduation. In early 2009, Sallie mae announced that it was going to start requiring students to make interest payments prior to graduation. This resulted in huge public outcry, and in spring, 2009, Sallie Mae announced that it was discontinuing the Signature Loan program. It was replaced with the Smart Option Loan, which also superseded a number of other loan programs.

The Smart Option Loan is now Sallie Mae’s primary traditional private student loan.