What happens to your student loans if your school closes?

If your school closed and you have federal student loans, they will not be automatically dismissed. You must apply to get your loans discharged. First, fill out the Closed School Loan Discharge Application and send it to your student loan servicer.

Does Sallie Mae Issues federal student loans?

You won’t find Sallie Mae on any federal student loan servicer list since we only service private student loans. But we’re here to assist with questions about your Sallie Mae private student loan, so if you have questions, call us at 855-429-9755 .

What are the benefits of Sallie Mae student loans?

Sallie Male grants a discount of 0.25 percent of the interest rate for automatic payment interest rate. Origination fee or penalty is no longer available. Deferred payment option can be considered as a benefit for private student loan borrowers. Based on it, after graduating the university, you can make payments.

When did Sallie Mae stop offering student loan consolidation?

Even without Sallie Mae offering direct student loan consolidation, there are still options available. Sallie Mae began as a government-sponsored entity, but went private in 2004.

Who is Sallie Mae and what do they do?

Sallie Mae® is a name that is ubiquitous within the student loan industry, and rightfully so. Beginning with a head start as a government organization that converted to a private organization, Sallie Mae® (SLM) and now Navient dominate the private student loan market.

Are there penalties for Sallie Mae smart option loan?

If there’s a gap between the financial aid you’ve received from the government and what you still need, Sallie Mae’s Smart Option loan can help make ends meet. There’s no origination fee, nor are there any penalties for paying off your loan early. With this private student loan, you can borrow up to 100% of your school’s cost of attendance.