How Do You Pay Off a Sallie Mae Loan?


Quick Answer

Having a repayment plan is the best way to pay off a Sallie Mae loan, according to a report by U.S. News & World Report. Eliminating student debt begins with keeping and organizing loan records, paying loans on time, and using loan reduction strategies according to the student loan program.

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How Do You Pay Off a Sallie Mae Loan?
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Full Answer

Kiplinger's recommends borrowers review their loans. This means knowing the amount of student debt, the interest due and the payment due dates for all loans. It also means having all loan information in one place for easy management, as stated by Sallie Mae.

The best way to pay off student debt is to set a deadline, notes U.S. News & World Report. Budgeting, planning and determination making paying off student loans successful.

Loan reduction strategies include automatic payments, paying online or refinancing loans. Sallie Mae reports some loans qualify for interest rate reduction pending the loan type and requirements. Working a second job or paying extra on payments are other strategies for reducing loans.

The best way to pay off student debt is to set a deadline according to U.S. News & World Report. The 10 percent or more paid in student debt translates to savings. Planning and executing a repayment plan means using a budget and staying on top of payments. Determination leads to success in paying off a Sallie Mae loan.

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