Is Sallie Mae a good student loan option?

Is Sallie Mae a good student loan option?

Sallie Mae is a great option for those interested in borrowing from a well-established lender with low rates, few fees and a variety of loan options. Borrowers with more unique educational needs, like funds for an online certification course, may have more luck finding a loan with Sallie Mae than with similar lenders.

What are the benefits of a Sallie Mae loan?

Our multi-year advantage means you can get the money you need year after year. Students have over a 90% approval rate when they return to Sallie MaeĀ® with a cosigner. Plus, you’ll get the convenience of a faster student loan application and managing all your private student loans with one lender.

How does Sallie Mae college loan work?

While you study for the bar exam, you can use a Sallie Mae bar exam loan to cover your fees and living costs. You can borrow up to $15,000 and have 15 years to repay the loan. You will owe no payments while enrolled at least half-time and during your grace period (9 months after you leave school).

What credit score does Sallie Mae require?

Financial. Minimum credit score: mid-600’s. Minimum income: No income minimum. Typical credit score of approved borrowers or co-signers: 749.

Do you have to pay Sallie Mae in school?

When you request a deferment of a Sallie Mae undergraduate student loan, you won’t have to make principal and interest payments while you’re in school or during your internship, clerkship, fellowship, or residency.

Is a Sallie Mae loan federal or private?

Sallie Mae is a company that currently offers private student loans.

Do you need a cosigner for Sallie Mae?

Sallie Mae will allow students to get a loan without a cosigner under special circumstances. They also have a program by which cosigners can be released after 12 consecutive payments.

What kind of student loan is Sallie Mae?

private student loans

Can I pay off Sallie Mae loan early?

There’s no penalty for paying early or paying extra. Each month, we’ll automatically withdraw your payment from the authorized bank account.