As the country honors its military this Veterans Day, Sallie Mae, the nation’s No. 1 financial services company specializing in education, offers appreciation and student loan assistance to those who serve or have served in the armed forces.
“These brave men and women perform an extraordinary service for our great nation,” said Mike Maier, senior vice president, Sallie Mae, and U.S. Navy veteran. “I served multiple deployments as a member of the U.S. Navy, and today I run loan servicing for Sallie Mae. I understand firsthand the special burdens that members of the military may encounter trying to meet financial obligations while serving our country. We salute their service and are committed to ensuring they succeed.”
Servicemembers may be far from home, incurring extra expenses due to deployment, or have infrequent access to a computer or phone. To help, Sallie Mae offers these reminders about the options that may be available to assist active duty servicemembers managing their student loan repayment.
- If you enter military service and have an existing federal or private education loan, the Servicemember Civil Relief Act may qualify you for a reduction in your interest rate to 6 percent during qualifying military service. In addition, you may be eligible for an additional interest rate reduction if you schedule payments through automatic deduction.
- You may request to postpone payments on your federal loans while serving on active duty during a war or other military operation, and for an additional 180 days following the completion of your military service.
- You may also be able to postpone payments on non-federal, private education loans. For example, Sallie Mae offers active duty military personnel the option to defer payments during periods of eligible military duty.
Sallie Mae reminds customers that postponing payments on either federal or private loans may provide temporary relief, but may increase the amount paid over the life of the loan. Student loan customers are encouraged to consider any extra costs as they decide whether to delay payments.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV