Corporate Central Credit Union today announced a new student loan program–offered in partnership with Sallie Mae and made available through Corporate Central members–that is designed to help students graduate with less debt.

Key to the so-called Corporate Central Credit Union Smart Option Student Loan by Sallie Mae is that students pay interest while in school. This allows them to graduate with less debt and to incur reduced obligations. According to Corporate Central, a typical freshman will save 30 to 50 percent on finance charges over the life of the loan. Typically, too, loans will be repaid five to eight years faster after graduation compared to the standard 15 year interest deferred student loan, said Corporate Central in a statement.

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