Save money. Make more than the minimum payment each month. You'll pay off your loan faster, and you'll pay less interest. Sallie Mae's accrued interest calculator can estimate how much you might save.Think long-term. Paying on time consistently can help you establish and build a favorable credit history, and that can make a big difference when you apply for a car loan, credit card, lease, mortgage, or even a job. Learn credit basics in " Understanding Credit," a handbook published by Sallie Mae and FICO. Be responsible. Open any mail you receive from your servicer or lender and read it carefully. Update your contact information when it changes, such as when you leave school and "edu" is no longer part of your email address. If you run into trouble, contact your lender or servicer, touch base with your cosigner if you have one, and look for solutions. Sallie Mae helps its customers avoid repayment surprises from the start. When they're approved for a loan, Sallie Mae customers may choose a repayment option that best fits their needs. They may make monthly interest-only payments or fixed-amount payments while in school, or defer payments until after they leave school. More than half of Sallie Mae's customers opt to make payments while in school, which means they reduce the amount of interest they pay over the life of the loan, and they leave school with less debt. In addition, Sallie Mae offers a Graduated Repayment Period (GRP), which allows graduates with eligible Sallie Mae loans in good standing to make 12 months of interest-only payments before they transition into making full principal and interest payments. Sallie Mae is the first private student lender to offer a GRP option. "Our commitment to helping students and families succeed at every step of the saving, planning, and paying for college process extends well beyond graduation," said Martha Holler, senior vice president, Sallie Mae. "Our student loan repayment tips and tools are designed to help new grads adopt responsible personal finance habits now that will serve them well throughout their lives."
For more information about saving, planning, and paying for college, visit SallieMae.com.Sallie Mae (Nasdaq: SLM) is the nation's saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, Upromise rewards, scholarship search, college financial planning tools, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.