Sallie Mae to Reduce its Interest Rates on Graduate Student Loans

Changes to Sallie Mae's Smart Option Student Loans for graduate degree seekers will go into effect on April 1. From that point on, those who choose this loan option can select either variable or fixed rates with no origination or prepayment penalties. The variable rate range will extend from 2.25% to 7.5%, while the fixed rate range will run from 5.75% to 8.875%.