1 Additional restrictions apply to students enrolled with less than half time status, including: (A) The loan period cannot exceed 130 days in length; and (B) The loan amount may not exceed the published cost of attendance at the school for all students with an enrollment status of less than half time. Sallie Mae reserves the right to approve a lower loan amount than what the school has certified. 2 $25/month fixed payment repayment option is available for new loan applications initiated on or after June 28, 2010, and is subject to change. The following typical loan example uses approximated numbers, is for informational purposes only and is an example of loan terms available through the Smart Option Student Loan: A Smart Option Student Loan made to a freshman borrower at a degree granting institution of $10,000 with two disbursements and a 10.05% APR [Interest rate of LIBOR + 10.375% (LIBOR of 0. 375% as of 6/25/2010) and no origination fee or disbursement fee]. APR may increase after consummation. Repayment consists of 51 fixed $25/month payments (in-school period of 45 months plus separation period of 6 months), followed by 119 principal and interest payments of $179.79 per month and one payment of $115.65 for total payments of $22,786 (finance charge of $12,786). 3 Benefit for enrolling in monthly recurring automatic debit payments is available for as long as monthly payment is successfully deducted from the designated bank account. Benefit is suspended during periods of forbearance and certain deferments.