| Sallie Mae student loans are a great way to pay for | | | | credit score. |
| college. Sallie Mae can help you obtain federal loans | | | | Many students find that they need more than one loan |
| along with alternative financing for students who | | | | to pay for college, some of the loans have different |
| cannot otherwise qualify. The federal loans typically | | | | interest rates, terms of payments, and payment dates. |
| have the best interest rates and payback policies. | | | | These students find that it may be advantageous to |
| Federal loans include the Federal Stafford Loan and | | | | consolidate all of their loans into one Sallie Mae loan. |
| the Federal Perkins Loan. | | | | This may, or may not, be the best thing for your |
| The Perkins Loan is unique in that the school you | | | | situation. If you decide to consolidate your loan you |
| attend will be the lender. Some schools will not | | | | may end up paying a higher interest rate, or change |
| participate in the Perkins Loan. Sallie Mae can act as | | | | the terms of your loan, where the interest is now due, |
| the lender for a Stafford Loan, or they can act as the | | | | when previously you had an interest deferred loan. |
| guarantor for the lender. | | | | Once you consolidate your Sallie Mae student loan, |
| You can also get a private Sallie Mae loan if you do | | | | you cannot go back and change it to the way it |
| not meet the Federal guidelines. These loans are | | | | previously was. |
| typically called an alternative student loan as they are | | | | Also, you may no need to consolidate your loans in |
| personal and generally not subsidized. | | | | order to get lower interest rates and one monthly |
| Rather than going to a bank for a private loan, you | | | | payment. Sallie Mae can combine the payments from |
| should utilize Sallie Mae for a loan. The rates tend to | | | | the various loans, both federal and private, into one |
| be lower and payment terms better than you can | | | | convenient monthly payment without having to |
| obtain at a bank. | | | | consolidate your loan. |
| A federal loan has certain income and grade point | | | | Check with your lending institution, they can provide |
| restrictions. A private loan generally will not have as | | | | you with the information you need in order to make an |
| many restrictions and will allow you to borrow more | | | | informed decision. A Sallie Mae student loan |
| money. The primary concern here will be with your | | | | consolidation may be the best solution for you. |