Sallie Mae Student Loan

A Sallie Mae Student Loan will make it easy to finance your education. Sallie Mae is America’s education finance leader and offers a wide range of private and federal student loan options, so finding the best student loan for your particular situation will be a snap.

Federal student loans are the primary source of education loans for students seeking financial aid. Federal loans have better repayment terms, and lower interest rates than private student loans. It is important to get all the federal aid you can before getting an alternative student loan. You can apply for federal funding at Sallie Mae.

Federal Sallie Mae Student Loans include: The Federal Stafford Loan, Federal Perkins Loan, Federal Parent PLUS loans, and the Federal Graduate PLUS loan. Federal student loans, which include Stafford and PLUS loans for graduate students, are often the least expensive way for graduate students to borrow. Students should first exhaust their federal Stafford loan eligibility and then consider the Graduate PLUS loan to help cover unmet costs.

Private student loans often have higher fees and interest rates than federal student loans, and your interest rate may depend upon your credit rating, but Sallie Mae has a well rounded variety of alternative loans to suit your funding needs.

Private Sallie Mae Student Loans include: The Signature Student Loan, The Tuition Answer Student Loan, Community College Student Loan, Continuing Education Student Loan, and The Career Training Student Loan. The Signature Sallie Mae student loan is especially beneficial because it allows you the advantage of not having to make payments until 6 months after graduation, just like federal student loans.

Sallie Mae also offers private graduate student loan programs with competitive rates and fees and outstanding repayment benefits for students attending business, law or medical school. Specialized Sallie Mae Student Loan opportunities include: MBA Loans, LAWLOANS, Bar Study LAWLOANS, MEDLOANS, MEDEX Loan and the Global Health Education Student Loan Program.

Repaying A Sallie Mae Student Loan:

When you start making payments of a Sallie Mae Student Loan, you will be automatically sign up for standard repayment. But you can choose from 6 repayment options to fit your busy lifestyle.

Standard student loan payments offers borrowers the lowest total loan cost. Regular payments of both principal and interest are due monthly, excluding periods of deferment and forbearance. The minimum monthly payment is $50.

Sallie Mae's graduated student loan repayment plans can make your monthly payments more manageable. In some cases, you may be able to reduce your initial loan payments by almost 60%.

Sallie Mae’s Student Loan Extended repayment option provides eligible borrowers with payment relief by lengthening their repayment terms for up to 25 years. Borrowers have a choice of either standard or graduated payment plans.

Sallie Mae’s Serialization Student Loan Payment Option makes juggling several student loans from different lenders a breeze. Serialization lets borrowers with student loans from multiple institutions make monthly payments to a single location. Sallie Mae will contact the institutions owning or servicing your non-Sallie Mae student loans and inquire about selling those loans to them. It reduces paperwork, phone calls and takes the stress out of paying multiple student loans.

Discover how Sallie Mae Student loan consolidation plan can help you bundle your student loans into one new consolidation loan, reduce your monthly bills and possibly lower your monthly payments. Plus, in the case of federal student loans, consolidation gives you the opportunity to lock in a low fixed rate too.

The Sallie Mae Student Loan Income Sensitive repayment plan makes paying your student loan off a breeze. If you experience financial difficulties this plan will help you stay on top of your student loan bills. Your monthly payments will be between 4% and 25% of your monthly gross income, and you get to determine the percentage of your payment. Student loan payment plan like these is what makes Sallie Mae a premier student loan solution.

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