In 2014, Sallie Mae, which was first established in 1973 as a federally guaranteed student loan program, separated into two dominant companies: Sallie Mae Bank, which operates as a consumer bank, and Navient, which is the largest federal student loan servicer.
Private student loans from Sallie Mae are great for people who wish to be compensated for making a payment while they are enrolled in school. For instance, Sallie Mae provides borrowers with lower loan rates if they make $25 monthly payments or interest-only payments while enrolled in school.
Sallie Mae Student
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Sallie Mae offers a selection of loans to assist students pay for undergraduate, graduate, and specialized degrees. Part-time students, those pursuing continuing education, and those working for professional qualifications are all eligible for loans.
- Choose from the following student loan categories:
- Undergraduate.
- Graduate studies.
- Career development.
- MBA.
- Medical college.
- Fellowship in medicine.
- Dental college.
- Dental training.
- Health professions graduates.
- Law degree.
- Bar study.
Learn more about Sallie Mae Student Loans
Sallie Mae provides a selection of loan terms and payback schedules. The sort of loan you take out will determine the possibilities you have. However, bear in mind that you’ll save money if you can make monthly interest-only or $25 flat fee payments. Most Sallie Mae loans enable you to postpone payments until six months after you graduate from college.
After graduating, making 12 timely principal and interest payments, and satisfying certain credit standards, you can file with Sallie Mae to have your cosigner released from their obligation to repay your loan.
Other Benefits of the Loan
- Large loan amounts: At an authorized school or institution, you may be able to obtain 100% of the fees associated with your school certification paid.
- Educational resources: Sallie Mae offers free study assistance and calculators for college costs to existing and potential borrowers. Sallie Mae assists students at various stages of their educational journey.
- Variety of programs supported: While most lenders demand that you be enrolled at least half-time, Sallie Mae provides loans for students who are only half-time, taking online or summer courses, studying abroad, or taking professional certification courses.
Is this loan for you?
For individuals looking for a reputable lender with affordable rates, few fees, and a selection of loan alternatives, Sallie Mae is a fantastic choice. Sallie Mae may be a better option than other lenders for borrowers with more specialized educational needs, such as money for an online certification course.
The best candidates for Sallie Mae student loans are:
Those who require funding for up to 100% of school-authorized fees.
Those who have a co-signer with good credit.
Individuals looking for loans to pay for their bar test preparation, medical or dental residencies, or both.
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