Getting Sallie Mae Smart Option Student Loans
Who exactly is Sallie Mae? The question, perhaps, should be: What is Sallie Mae all about? If you haven’t been on the scoop lately, Sallie Mae is the top student loans provider in the U.S. What started as a GSE ( government-sponsored entity ) in the early 70’s had become one of the biggest private organization helping millions of students with their federal, as well as private student loans. The aim is simple: To give financial aid to aspiring students who want to get that education to fuel the career of their dreams.
Sallie Mae saves students money
As early as 2009, Sallie Mae had come up with another genius way for students to save money, build a good credit history, and pay debts faster with the Smart Option Student Loan. Sallie Mae student loans have proven once more that they’re the crème de la creme of the industry. Now, you can use one of Sallie Mae’s student loans to borrow up to 100% of your education cost. This new program just lessens students’ pay loads, where they can do interest-only payments. Imagine saving up to $8,700 in student loans. Beat That!
Sallie Mae Student Loans: Learning Your Smart Options
1. Applying for this loan? You need to be an undergrad or a graduate student, a legal U.S. citizen or resident, someone with a credit-worthy cosigner who is a legal U.S. citizen or resident, and someone who meets Sallie Mae’s eligibility criteria.
2. Worrying about hassles? Applying for Sallie Mae’s Smart Option student loan is as easy as 1-2-3, where you can file online and do an eSign ( electronic signature ). You can even follow-up 24/7.
3. Any Limits? For starters, you can borrow a minimum of $1,000 and borrow as much as you need in attending school. If you receive other forms of financial aid, it will be deducted from your loan amount.
4. Lower Interest Rates? Just look for a cosigner with a good credit history for you to get a lower interest rate on your Sallie Mae student loan. You can even get a 0.25% reduction in interest rate.
5. Fees? You may have to pay a disbursement fee of three percent. Th Good News: No Prepayment Penalties ( so pay off your loans a.s.a.p! ).
6. How About Repayments? You can only pay the monthly interest while you’re in school, or during the 6-month separation period. This makes it easier on your budget. After the 6-month grace period, you will have to pay for the total amount of your loan, plus the interest. Try using their repayment calculator to help you plan your payments.
Sallie Mae student loans are offered by the Sallie Mae Bank or their lending partners. Know that Sallie Mae can lower a loan amount than what was certified by your school. You can definitely consult a financial advisor on your Sallie Mae student loan options, or you may check the IRS ( Internal Revenue Service ) guide on Tax Benefits for Education . To make payment a breeze, you can also choose an automatic debit system where Sallie Mae can take monthly payments from your bank account so you can pay on time. For more information, visit Sallie Mae Student Loans online.
READINGS:
http://www.ehow.com/how_2093977_apply-sallie-mae-student-loan.html
http://www.salliemae.com/get_student_loan/find_student_loan/smart-option-student-loan.htm
http://www.nasfaa.org/publications/2009/cnslm032409.html
http://www.studentloanconsolidation.pro/195-financial-services-by-sallie-mae.html
