Sallie Mae Student Loan Refinance Review
ConsumersAdvocate.org Rating: 6.9 / 10 (Very good)
Sallie Mae has become a household name when it comes to student loans and college saving plans. Started in 1972, it has helped over 30 million Americans in their pursuit for higher education. Sallie Mae continues to be one of the nation’s leading provider of student loan programs for both undergraduate and graduate studies.
Sallie Mae covers 100% of school certified costs of attendance. This gives you more options in terms of school choice as you are not limited by the amount of school loan available.
- Undergraduate School – No limits
- Graduate School – No limits
Sallie Mae provides a variety of repayment options. Deferred repayment allows you to make no payments during school or make as much as you like. Fixed repayment gives you the option of paying $25 a month during school and its Interest only repayment option gives you the flexibility of making interest payments while in school.
- Fixed (Rates start at 2.25% APR)
- Variable (Rates start at 5.74 APR)
Save with auto payments
Yes. Save 0.25% of your student loan rates while enrolled by signing up for automatic payments.
Make 12 consecutive on-time principal and interest payments after you graduate.
Loan Related Fees
- Origination fees
- Prepayment Penalties
- None. Sallie Mae does not penalize you for paying your student loans early.
Student Loans at Sallie Mae
Sallie Mae continues to make higher education possible for many Americans by providing quality student loan services. It offers flexible payment options and competitive rates to make student loans affordable. However, it still lacks some of the discount programs that most of its competitors offer. All in all, a solid choice for students and their families searching for an affordable student loan company.