Think about SallieMae for your Student Loans
Student loans are a big thing when it comes to paying for college. What is SallieMae anyway? Well, SallieMae is a financial institution which has been in business for over 40 years and caters to students and helps them finance their education from beginning to graduation.
How does SallieMae recommend families to approach money for college? Well, first, before applying for any student loan, you should look for other funding sources, such as grants and scholarships. Obviously, not everyone is eligible for a scholarship. Those are typically reserved for the best of the best, whether it’s for students who excel in mathematics, science, sports, or other subjects of interest.
Grants, on the other hand, are readily available and after jumping through a few hoops and ladders, you could be eligible for a grant of $5,000 to $10,000 from the Federal Government or other organizations. The Federal Government also has special loan programs available for those students who are looking to go to school.
According to SallieMae, many private lenders may have high interest rates, thus they should be of last resort.
What is SallieMae’s solution to these loan problems? Well, with SallieMae, you have a whole financial institution which is there to help students get the loans they need to get through college and enable them to have a quarterly FICO credit monitoring service to help them pay their loans back.
Along with student loans, SallieMae also offers credit cards for students to help them pay for books, supplies, and other things associated with college life and living away from home.
The loans which SallieMae has to offer to students come in a different types of loan programs and they do have a loan officer who can work with the student and his or her parents to come up with the best option. SallieMae offers student loans for undergraduate, graduate, and continuing studies. Some of the loan options available are listed below.
- The simple and smart school loan option for undergraduate students is a very flexible loan program which can allow undergraduate students to borrow for up to the full amount of their tuition at school. This program also offers a complimentary FICO monitoring service and gives the undergraduate students a proper understanding of their FICO score as well. When it comes to making payments, the program is flexible and allows the student to choose between a variable or fixed interest rate. Furthermore, the smart loan program also offers rewards for making payments on time.
- The simple and smart career training loan is a loan offered by SallieMae for those students who are looking into going into a specific career and has much of the same features of the above mentioned student loan, such as the ability of the student to borrow up to the full cost for school, but the only difference is that it does not offer a FICO monitoring program and only has a variable interest rate. This loan does not have any penalties for prepayments and offers rewards for making payments on time.
- The Upromise Credit Card is a MasterCard which specifically caters to students or people who want to help pay off their student loans. This credit card is loaded with rewards, including a $100 first use bonus. The Upromise card also offers five percent cash back rewards for online shopping, four percent cash back on dining, two percent cash back on movie theaters, and one percent cash back on everyday purchases. This card is ideal for the serious college student or college grad who is paying down his or her student loan or saving during college.
- The SallieMae Rewards MasterCard is an ideal credit card for those who have student loans with SallieMae. This credit card offers a $250 statement credit when you have spent over $750 during your first 90 days of opening the card. The SallieMae Rewards MasterCard also offers statement credits when purchasing your books to go to any eligible SallieMae student loan.
SallieMae is a finance company which should definitely be consulted when looking for money for college. The loan options at SallieMae are amazing and you can get more information by clicking here.