The latest credit union to offer members student loans via Sallie Mae's Smart Option Student Loan referral program is the $924 million FORUM Credit Union in Fishers, Ind.
The suburban Indianapolis credit union joins Sallie Mae's pool of approximately 500 credit union partners, which earn fee income in exchange for referring members to the financial services company's Smart Option Student Loan.
The student loan product is designed to supplement federal student loans and other forms of financial aid, can cover up to 100% of borrowers' education expenses, and offers rewards for on-time and automatic payments, FORUM CU said.
Compared to a conventional, payment-deferred, 15-year term loan, students can save 17-49% in interest with the Smart Option Student Loan and pay off the loan three to eight years faster, according to the credit union.
“Sallie Mae is delighted to partner with FORUM Credit Union to assist families seeking responsible solutions to make the investment in a college education,” said Jerry Maher, senior vice president for Sallie Mae.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
