Sallie Mae Career Training Smart Option Loan for Aircraft Mechanic Schools

Sallie Mae loans at aircraft mechanic schools

The Sallie Mae Career Training Smart Option Student Loan is one option for financing your attendance at  aircraft mechanic schools. It is one example of what is generically referred to as a private student loan. You can apply for this type of loan at:

https://www.salliemae.com/student-loans/career-training-smart-option-student-loan/

Sallie Mae designed this online application to be quick and easy for you to complete. Before starting, we recommend you (and your cosigner, if applicable) have the following information handy:

Sallie Mae application information for aircraft mechanic schools

From the Sallie Mae website, this is the information you will need to apply online for the career training smart option loan:

  • Permanent address and current address, if applicable, along with previous address information
  • if you’ve lived at your permanent address for less than one year.
  • Social Security numbers of both the student and the cosigner, if applicable.
  • School information, including GPA and academic period of enrollment.
  • Loan amount requested, as well as other financial aid you expect to receive.
  • Employment information.
  • Financial information, including monthly mortgage or rent payments.
  • Name and contact information for two personal contacts (not required for cosigners).

There are several advantages to a Sallie Mae Smart Option Loan, which Sallie Mae describes on their website.

“By making interest payments while in-school and taking advantage of the Smart Option Student Loan’s shorter repayment term, you can save over 25%  on your total loan cost compared to a traditional private student loan with deferred payments and a 15-year repayment term.”

Favorable rates – “2.25% APR to 9.11% APR” (at the time of this writing)

No penalty for prepayment

“Applying online is easy – it only takes about 15 minutes to apply and get a credit result”

24/7 online account management ”

As with all loans, there are also disadvantages.

Please understand that if you default on a student loan, you could:

  • ruin your credit and indirectly, your chance of obtaining a job as an aircraft mechanic.
  • student loan defaults are not removed from your credit history, even after seven years, and are not really taken off your credit history.
  • Student loan defaults are not discharged during bankruptcy proceedings.
  • You could see a wage garnishment if you default.
  • A simple private student loan default can lead to years of bad credit and debt repayments.

Smart Option Student Loan for Aircraft Mechanic Schools

The Sallie Mae Smart Option Student Loan is reviewed in the following video.

Students, this is real money being handed over to you. You must repay this loan!  Some good advice, from Dave Ramsey, may convince you that a student loan may not be necessary, or perhaps to minimize the amount of money taken out as a loan, for your attendance at any of the aircraft mechanic schools.

by Steve Adams

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