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Here’s what to know if you have a Sallie Mae loan or are considering taking one out. ... with an interest rate of 5.50%. Parent PLUS loans are available at an interest rate of 8.05%. Alternative ...
Smart Option Student Loan. For students working toward an associate, bachelor’s or certificate from a degree-granting school. Up to 15 years. Parent Loan
The Sallie Mae Parent Loan provides the option for anyone — parents, grandparents or even friends — to borrow on a student’s behalf. How Sallie Mae Student Loans Can Help Parents Pay for College
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
5.6% for a loan first disbursed between July 1, 2009, and June 30, 2010; 4.5% for a loan first disbursed between July 1, 2010, and June 30, 2011; 3.4% for a loan first disbursed between July 1, 2011, and June 30, 2012; Interest rate under the new law does not extend to loans disbursed after June 30, 2012. The rate for these new loans will ...
Losses on student loans are extremely low, even when students default, in part because these loans cannot be discharged in bankruptcy unless repaying the loan would create an "undue hardship" for the student borrower and dependents of the borrower. [18] In 2005, the bankruptcy laws were changed so that private educational loans also could not ...
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