Sallie Mae Student LoansUnaffiliated
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Mostly not recommended
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Sallie Mae Student Loans Review
Sallie Mae Student Loans is offered by Sallie Mae, a direct lender founded in 1972 and based in Newark, DE. Sallie Mae Student Loans are available in 50 states (and Washington, DC).
Sallie Mae Student Loans FAQ
What rates does Sallie Mae Student Loans offer for in-school private student loan?
Sallie Mae Student Loans has a variable APR that ranges from 5.37% up to 15.70%.
It offers a fixed APR that ranges from 4.5% up to 14.83%.
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from Sallie Mae Student Loans?
Available loan amounts may vary by applicant but Sallie Mae Student Loans has a minimum loan amount of 1K
Does Sallie Mae Student Loans charge an origination fee?
No, Sallie Mae Student Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does Sallie Mae Student Loans charge prepayment fees?
No, Sallie Mae Student Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
What terms does Sallie Mae Student Loans offer?
Sallie Mae Student Loans provides repayment terms ranging from 10 to 15 years.
What type of borrowers will Sallie Mae Student Loans consider?
Sallie Mae Student Loans considers loans applications from:
- undergraduate students
- graduate students
What do you need to qualify for Sallie Mae Student Loans?Sallie Mae Student Loans does not require or does not disclose a credit score minimum.
Sallie Mae Student Loans does not have or does not disclose a minimum annual income eligibility requirement. Sallie Mae Student Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Sallie Mae Student Loans. An uncommon feature is for lenders to offer their services to non-residents. Sallie Mae is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
- Proof of citizenship or residence permit
Is Sallie Mae a legit company?
Sallie Mae was founded in 1972, it is a well-established company that has been in business for 51 years. Sallie Mae Student Loans are mostly not recommended by SuperMoney community users.
Message From Sallie Mae Student Loans
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Other Services by Sallie Mae
- Washington, DC
- North Carolina
- North Dakota
- New Hampshire
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Late Fee Amount||Up to $25|
|No Interest Grace Period for Late Payment||15 days|
|No Origination Fee|
|No Prepayment Fee|
|Employment Statuses Considered||
|Immigration Status Considered||
|Verification Documents Required||
|Credit Bureau Reporting||TransUnion|
|Loan Term||10 - 15 years|
|Up to Cost of Attendance|
|Fixed APR||4.5% - 14.83%|
|Variable APR||5.37% - 15.70%|
|Loan Amount||Starting at $1,000|
Sallie Mae Student Loans Community Reviews
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SUPERMONEY NET RECOMMENDATION SCORE