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Refinancing Sallie Mae loans can make it possible for you to save money, enjoy a little more control over your repayment plan and take advantage of features that you might not currently have.
Your loan servicer plays a major role in your repayment. Whether you’re seeking help via Salle Mae’s rate reduction program or attempting to hack Sallie Mae student loans to pay them off ...
Sallie Mae services private student loans for a variety of degrees, including undergrad, MBA, medical school, dental school and law school. ... such as the ability to adjust your repayment plan ...
The company announced in 2013 its plans to separate into two publicly traded companies [11] – an education loan management business to be launched with a new name – Navient – and a consumer banking business, which retained the name Sallie Mae. [12] The spin-off was completed on April 30, 2014.
Income-based repayment is a federal program and is not available for private loans. [29] IBR plans generally cap loan payments at 10 percent of the student borrower's income. Deferred interest accrues, and the balance owed grows. However, after a certain number of years, the balance of the loan is forgiven.
The US first major government loan program was the Student Loan Marketing Association (Sallie Mae), formed in 1973. [19] [clarification needed] Before 2010, federal loans included: loans originated and funded directly by the Department of Education (ED) government guaranteed loans originated and funded by private investors.