Honest Review of Sallie Mae Student Loan

If you haven't heard about Sallie Mae then let me tell you. Sallie Mae is a reputed organisaion who provides students loan for graduage and undergraduate students in different fields like Engineering, Law and Commerce firm.

What is Sallie Mae?

Sallie Mae Student Loans could be a standout amongst the most unmistakable names in the understudy advance industry. Congress made the organization in 1972 and named it the Student Loan Marketing Association. At the time, it was an administration supported undertaking (GSE) and furthermore had the epithet Sallie Mae, like Fannie Mae in the home loan industry. Because of new government laws in the 1990s, it was rebuilt and hasn't been a GSE since 2004.

Its job in the understudy credit space has likewise changed throughout the years. Sallie Mae has started governmentally ensured credits through the now-outdated Federal Family Education Loan Program (FFELP), adjusted bureaucratic understudy advances and began and overhauled private understudy advances. You can also Check out it's Wikipedia page for more info.

Benefits of Sallie Mae Student Loan

There are different advantages of the Smart Option Student Loan too. To start with, borrowers can win up to 0.25% financing cost decrease in the event that they pick to utilize the programmed installment alternative for their credits.

Additionally, Sallie Mae is one of the main loan specialists to offer an adaptable reimbursement choice for borrowers. This enables graduates to make 12 intrigue just installments after the effortlessness time frame—the time after graduation in which borrowers don't need to make installments on their credits.

Both the Medical and Dental Residency and Relocation advances give somewhere in the range of $1,000 to $20,000 contingent upon the requirements of the person. Likewise, no installments are required while in school or for a long time after graduation. These two credits likewise offer a similar programmed installment markdown as the Smart Option Student Loan.


Features of Sallie Mae Student Loan


  • Deferred repayment: You’re not responsible for making payments while you’re in school and for six months after graduation. You’ll pay more in interest with this repayment option since interest accrues while you’re not making payments, but the extra time before payments are due can help you focus on school and landing a job.

  • Fixed repayment: With this option, you pay $25 a month while in school and during your grace period. According to Sallie Mae, opting for this repayment plan can help you save 12% on your total undergraduate student loan cost.

  • Interest repayment: Under an interest repayment plan, you pay the interest every month while in school and during the six-month grace period. According to the company, paying the interest in school can help you save about 25% on your total loan cost.