Welcome to the most excellent student loan alternative.

Welcome to the most excellent student loan alternative.

You’re in charge of your destiny with a Smart Option Student Loan.

Convenient

Not the cost of college, but the education you’ll get

  • Do it once and be paid for the whole year.
  • Each year, students with a cosigner from Sallie Mae® have a 96% success rate when reapplying.

Comprehensive

Don’t worry. We’ve got this.

  • Whether it’s for more significant expenses like tuition and room and board or more modest ones like textbooks and a laptop, we’ll work with you to get you the money you need for college. Need money now? Visit the Oak Park Financial website.

Customized

Pay in a method that works best for you and save money.

  • When you pay via automatic deduction from your bank account, you will get a 0.25 percentage point interest rate decrease.
  • Choose in-school repayment to lower your interest rate.
  • There are no costs for prepayment or origination. To save money, you may pay off your undergraduate loan as early as you’d like. 

We’re here to answer any of your queries.

Give me your responses now! This brief tutorial teaches student debt, budgeting, and financial literacy.

What’s the best amount to borrow?

You can estimate the cost of a year of education. To begin, look up the cost of attendance on your financial assistance award letter. The cost of attendance may also be seen on the school’s website.

The cost of attendance includes the cost of tuition, fees, books, food, and transportation for the whole academic year. Depending on the sort of loan you’re taking out, your school may want to ensure that you’re not borrowing more money than you need to pay for your education.

What are the advantages of having a cosigner on your document?

If you don’t have a credit history, you can’t take out a student loan. With a cosigner, you can get the money you need. The loan is cosigned by a parent or other adult with a solid credit score in most cases. Students’ chances of getting their loan accepted may improve if they have a cosigner on their application.

  • A fixed-rate and a variable rate are two different things.
  • A rate of interest that will not fluctuate
  • The rate is constant. You’ll be able to forecast your monthly expenses.

Interest rates that fluctuate

According to the index, interest rates may move up or decrease. Although it may reduce your monthly payment, it may also increase your overall costs.

How can you repay?

You may pay back your undergraduate loan while still in school or after graduation. Paying off your loan early might save you money and there are no consequences for doing so.

Save more while school.

  • It’s cheaper to pay monthly interest while in school and for the first six months. Choosing this option instead of paying everything after school may save you up to 12% on your overall loan payment as a freshman.
  • Your grace period is the time between leaving school and paying principle and interest.

Pay during school, save

  • For the first six months of your loan, you pay $25 a month. 
  • Choosing this option instead of paying everything after school may save you up to 6% on your overall loan payment as a freshman.
  • Your grace period is the time between leaving school and paying principle and interest.

After school, pay everything

Using delayed repayment:

  • You don’t make your first payment until after school and the 6-month grace period.
  • Your grace period is the time between leaving school and paying principle and interest.

Applying

Follow these simple steps:

Describe yourself

We’ll need your name, address, and date of birth, as well as information about your school.

Pick a financing option (s)

Then choose the repayment arrangement and interest rate that best suit your budget.

Acceptance

Review all loan documentation to understand your obligations. To borrow from us, just e-sign and accept your loan. The remainder is up to your school. Done!

Jeremy S. McLain