- No surprises: clear terms, 30 days to shop around and 60 days to cancel.
- 100 percent school certification: financial aid officers approve loan amounts to ensure that customers borrow no more than the cost of attendance, less other financial aid received.
- Graduate with less debt: customers who elect to make payments in school receive the best interest rates and pay less interest compared to those who defer payments until after graduation.
- On-time payment rewards: students may receive Upromise cash back rewards of 2 percent of their scheduled, on-time, in-school monthly payments and a 0.25 percentage point interest rate reduction with the auto debit payment program.
- Tuition insurance: up to $5,000 of tuition, room, board and other fees not refunded by the school if a student is forced to withdraw within a year for eligible medical reasons.
- Cosigner release opportunity: the primary borrower may apply for cosigner release after graduation and after making 12 consecutive monthly on-time principal and interest payments.
- Death and disability loan forgiveness: full loan forgiveness for the cosigner if a primary borrower dies or becomes permanently disabled.
Sallie Mae Announces Lower Interest Rates For Graduate Students, Effective April 1
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