Student Loan Repayment Options Sallie Mae Smart Option Student Loan®

YOUR LINK HERE:

http://youtube.com/watch?v=pffVNmuRpvM

To learn more about repayment options for a Sallie Mae Smart Option Student Loan® visit: • https://www.salliemae.com/student-loa... • It is important to consider repayment options before borrowing money for college. This video • from the Sallie Mae Smart Option Student Loan® series outlines the various repayment options • students can select while opting for a Smart Option Student Loan. Sallie Mae’s Smart Option • Student Loan offers 3 repayment options: • • Interest Repayment Option • • Fixed Repayment Option • • Deferred Repayment Option • The repayment option on a disbursed student loan cannot be changed, but you can pre-pay or • make extra payments any time without penalty. • Students opting for the Interest Repayment Option need to make monthly interest payments. • The monthly interest depends on the borrowed amount. This option requires the student to • make interest payments while in school and for the six months after, known as the “grace or • separation period.” Features of the interest repayment option: • • Prevents interest from adding up • • Students who opt for the Fixed Repayment option, make a fixed payment each month while • in school and for six months after. These regular payments reduce the amount of unpaid • interest but unpaid interest will be added to the principal student loan amount after • separation. Features of the fixed repayment option: • • Fixed monthly payment • • Helps lower unpaid interest • • Save on total loan cost compared to those who defer payments • The Deferred Repayment Option is a flexible plan, letting you pay as much as you’d like—or • nothing at all—while you’re in school. Features of this option include: • • No scheduled payments until 6 months after school • Flexibility to pay what you want while in • school • • This option has the highest cost, as unpaid interest will be added to principal amount after • separation • Compare the various repayment options for a Sallie Mae Smart Option Student Loan®and • choose the one that’s right for you. • Sallie Mae® encourages responsible borrowing by helping students and families supplement • their college savings by exploring grants, college scholarships, and federal and state student • loans. Students are advised to anticipate monthly payments on their total student loan debt • and their expected future earnings before considering a private education loan. To learn how, • visit: https://www.salliemae.com • More from Sallie Mae: • Facebook: / salliemae • Twitter: / salliemae • LinkedIn: / sall. .

#############################

New on site