Sallie Mae signature loans for students are available to qualifying applicants to help cover any unmet needs in their college financial aid plans. These loans help cover educational costs such as college tuition, textbooks and housing.Continue Reading
Sallie Mae signature student loans do not require collateral to qualify for funding. They are “good faith loans” for which approval and repayment rates are dependent on the applicant’s credit score and income.
Sallie Mae signature student loans are available for both undergraduate and graduate school expenses. These loans provide various financial and educational benefits, including flexible repayment options, competitive interest rates and rewards for meeting repayment terms. Additionally, applicants can borrow up to 100 percent of their school-certified cost of attendance.
These loans allow the borrower to choose their repayment plan. Borrowers can typically choose from a deferred, fixed or interest repayment option.
The deferred option allows the borrower to defer payments until graduation. The fixed plan allows the borrower to pay a fixed amount of just $25 a month while in school. These early payments decrease the loan cost by up to 10 percent when compared to the deferred plan. Lastly, the interest repayment option requires borrowers to satisfy interest payments while they are attending school. Knocking out the interest early decreases the total loan cost by over 20 percent. Borrowers can choose between a variable or fixed interest rate when applying for Sallie Mae student loans. No origination fees and no prepayment penalties are attached to these loans.Learn more about Credit & Lending
Sallie Mae offers six deferment and three forbearance options. There are education-related, economic hardship, in-school, military service, unemployment and parental deferments. Forbearance options include general, mandatory and student loan debt burden.Full Answer >
Individuals with student loans through Sallie Mae have numerous options for making their loan payments. This includes online payment, automatic debit, using third-party billers and banks, and paying by phone or by mailing in a check or money order to the address on the billing statement.Full Answer >
Sallie Mae customer service representatives are available by phone at 800-472-5543 from 8 a.m. to 9 p.m. Eastern Time Monday through Thursday and 8 a.m. to 8 p.m. Eastern Time on Friday , according to Sallie Mae. The company accepts mailed correspondence at P.O. Box 3319, Wilmington, DE 19804-4319.Full Answer >
SallieMae offers student loans for undergraduates and graduates, with either fixed or variable rates, according to SallieMae. It also offers loans for specialized training, such as the Bar Study Loan for law students, or the Medical Residency and Relocation Loan for medical students.Full Answer >