Sallie Mae Student Loan Consolidation

Sallie Mae is the nation’s leading provider of education financial services and the #1 provider of consolidation loans. It was originally created in 1972 as a government-sponsored entity and terminated its ties to the federal government in 2004. The company remains the country's largest originator of federally insured student loans.

Sallie Mae also provides debt management services as well as business and technical products to a range of business clients, including colleges, universities and loan guarantors. Sallie Mae offers a number of other benefits to borrowers, including reduced interest rates, attractive repayment options, availability of electronic payment services, online account management, toll-free customer hotlines, and call center staff trained to meet your information needs.

Sallie Mae manages nearly 127 billion dollars in student loans and serves ten million borrowers. By consolidating with Sallie Mae, you are choosing a company that leads the student loan industry with more than thirty years of experience, superior servicing, and exceptional student loan consolidation benefits.

Special services offered by Sallie Mae, the nation’s leading provider of education funding and the largest student loan consolidator, make consolidating student loans less stressful. You can reduce your monthly payments by up to 53% and lock in rates as low as 6.625%.

You can also earn benefits that can drop your rate and retain important deferment and forbearance benefits. Moreover there aren’t any application fees or credit checks. According to Sallie Mae, a recent graduate consolidating $20,000 in loans during his or her grace period could save over $5,000 by doing so before July 1. If you don't think you'll be able to get your paperwork in, go online and send in your application electronically as most lenders have an online presence.

Its fast and secure online applications make things easy and comfortable. Their highly automated online application process lets borrowers submit the necessary paperwork in just minutes. In addition to the online application, Sallie Mae offers an electronic concierge service that completes the application on the borrower’s behalf.

The online application and concierge service are available 24/7 at Sallie Mae’s website. Moreover, for an application form you can also call Sallie Mae's school loan consolidation specialists at (800) 448-3533.

As a rule, if your lender does not make consolidation loans, you will be referred to one that does. For loans owned or serviced by Sallie Mae, the minimum monthly installment under the graduated repayment plan is $30. Your monthly payments cannot be less than the accruing monthly interest, however.

Processing times vary from within 24 hours to six weeks. Sallie Mae lets borrowers apply for consolidation while still in grace and still maintain their grace period benefits. If instructed by the borrower, Sallie Mae will hold the application and schedule disbursement on a date near the end of the borrower's grace period.

By offering this service, Sallie Mae maximizes your grace period benefits. Lastly Sallie Mae says, “To make the best decision on loan consolidation, borrowers need to be savvy shoppers and carefully weigh the rates, benefits, and service of each provider.”

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