The Best Resource for Student Loans!

Sallie Mae Student Loans

Sallie Mae is one of the United States leading providers for student loans. They have literally helped millions of College bound students since 1972. It is very important to have a financial plan for College established. There are many students who don’t leave themselves enough time and they have to defer enrollment. The best time to start planning your College future is in September of your Junior year. Start discussing with your family where you want to go to school and what your major is. Then start planning with your High School Guidance Counselor your classes for the next semester and for Senior Year.

You can also receive Sallie Mae student loans if you fail to meet the Federal guidelines. Typically, these kinds of loans are referred to as alternative student loans because they are personal loans and as such are not subsidized. Instead of going to a bank to receive a private loan, you should instead utilize Sallie Mae student loans. Their rates are actually lower and they have better payment terms which aren’t available in banks.

Most students utilize more than one loan to help pay for their college needs and these loans would all have different interest rates, payment due dates as well as payment terms. Seems like a little bit too much, right? This is why many of these students actually choose to consolidate their student loans into a single Sallie Mae student loan. Doing this could be the best or worst thing to do in your situation. Because if you decide to consolidate your loan you might end up paying a higher interest rate or the terms of your loan might get changed. Consolidating your loans into a single Sallie Mae student loan is irrevocable and is permanent.


Sallie Mae student loans originated in 1972 as a government sponsored program intended to increase the general public’s access to college degrees by offering financing options to students. The company became private in 2004 after a seven year process of privatizing. Loans under the Federal Family Education Loan Program, which are federally guaranteed, have historically been the main type of financing the company issues. The company also offers private loans for borrowers.

Benefits of Sallie Mae lenders

Although the basic interest rate on federal loans (Stafford, Parent PLUS, Graduate PLUS, and consolidation loans) is the same from lender to lender, you’ll be happy to know that for loans for academic year 2009–10 Sallie Mae lenders will pay the federal origination fee on Stafford loans.

This savings may be in addition to loan balance reductions and interest rate benefit programs awarded for demonstrating responsible repayment behavior.


Before borrowing money for higher education, it is important to consider other financial aid options. Offers such as scholarships and grants should be considered before taking out a student loan since they do not need to be repaid. A Sallie Mae student loan must be repaid based on the terms agreed upon in the contract. Borrowers should consider all financial aid options, especially those that do not need to be repaid, before taking out a student loan to pay for college.

How Can I Apply for Sallie Mae Student Loans?

First of all, know that if you’re looking for federal funds, you must fill out the Free Application for Federal Student Aid (FAFSA Form), which is available at the Sallie Mae site.  This will help determine your eligibility for certain federal guaranteed loans (that come with favorable interest rates).  Once you are eligible, lenders like Sallie Mae will serve as the administrators of the loans.