Sallie Mae Extended Repayment Plan?

A recap of my conversation with Sallie Mae about my student loan debt, and a much more important customer they should pursue instead.

What is free?

  • Kiplinger's Personal Finance
    Kiplinger's Personal Finance

    But you can probably do better overall by refinancing with Sallie Mae (or ... 7% or even 6% (depending on the repayment plan you choose) in ly as possible. ...

  • Kiplinger's Personal Finance
    Kiplinger's Personal Finance

    ... the payment down to $351 a month by consolidating his loans with Sallie Mae or ... Graduated-re payment plans. Such plans extend the repayment term and ...

  • Complete College Financing Guide
    Complete College Financing Guide

    An Extended Repayment Plan, which allows families to reserve the moneys ... Sallie Mae Signature Education Loans offer the benefits of the Sallie Mae ...

Related links

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Sallie mae loan consolidation

When your student loans get the best of you and you’re wondering how you’re ever going to get out from under all that debt, take a look at loan consolidation. It may be the answer to a number of your problems.

Turn to Sallie Mae loan consolidation for a way to pay off your federal student loans, improve your finances, and put a little extra money in your pocket every month. A Sallie Mae loan consolidation replaces your existing multiple student loans with one loan, usually with a dramatically lower interest rate – as low as 4.75%. The difference a few percentage points can make in monthly payment amounts can mean the difference between scraping to pay bills and actually having a little extra pocket money.

It is not uncommon for a borrower to get a fixed interest rate that is up to 0.6% lower than their current rates. According to federal regulations, calculating the interest rate on a consolidated loan disbursed on or after July 1, 1994 involves the weighted average of the interest rates of the old school loans you are consolidating under the new one, rounded up to the nearest one-eight of one percent. Fixed interest rates on a consolidated loan cannot exceed 8.25 percent.

What is new?

  • Sallie Mae's Full 2010 Earnings

    LoanSafe - Jan 20, 2011

    Serving 23 million customers, Sallie Mae offers innovative savings tools, tuition payment plans and education loans that promote responsible financial

  • College Saving Gets Trickier

    Wall Street Journal - Jan 21, 2011

    Despite rock-bottom interest rates, about 50% of parents saving for college say they now are using savings accounts or CDs, according to a recent Sallie Mae

  • Capital Crumple Zones

    CFO.com Magazine - Feb 01, 2011

    Three years ago, those circumstances sent Sallie Mae hat in hand to the equity markets to do a poorly timed public offering. The sale diluted the value of

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