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Sallie Mae assigns loan terms. Many sallie mae student loans have a repayment term that ranges from five to 15 years. Most other lenders that offer a range of terms let borrowers choose their term, along with the corresponding monthly payment and interest rate. sallie mae, however, will assign you a term. No loan pre-approval.
Sallie Mae student loans. sallie Mae is a financial institution that has provided and serviced loans for over 40 years, originally servicing both federal and private student loans. In 2010, new legislation prohibited the servicing of federal student loans by financial institutions like Sallie Mae.
These two loans also offer the same automatic payment discount as the Smart Option Student Loan. The Bar Study Loan from Sallie Mae student loans allows for students studying for the bar exam to borrow anywhere from $1,000 to $15,000. Payments can be deferred until 9 months after graduation or leaving school.
Most programs that allow sallie mae loan forgiveness require you to be in a specific profession or a drastic situation. Your loans may be partially or fully forgiven if you are a teacher or disabled. But other programs can give you a break in making payments or allow you to make lower payments.
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Student loans. Sallie Mae has been in the student loan business for over 40 years and has a wide selection available. Its standard undergraduate student loans come with fixed rates from 5.74% to 11.85% APR and variable rates from 4.37% to 11.23% APR. It also offers a 0.25% rate discount for signing up for automatic repayments.
Federal student loans offer many benefits compared to other options you may consider when paying for college: The interest rate on federal student loans is fixed and usually lower than that on private loans-and much lower than that on a credit card! You don’t need a credit check or a cosigner to get most federal student loans.
Sallie Mae offers loans that can cover from $1,000 up to 100% of the school’s cost of attendance, yet they encourage consumers to borrow what they need and can pay back later. They charge loan application, origination, and late-payment fees, yet there are no penalties for early student loan payoff.
Homestyle Mortgages Fannie Mae HomeStyle ® Renovation Mortgage. The Fannie Mae HomeStyle® Renovation Mortgage was created to help consumers purchase homes that need work from the very beginning. With this type of mortgage, buyers can bundle the costs of purchasing a home with the expense of remodeling and make a single monthly mortgage payment.