Consolidating private student loans through government
Consolidating private student loans through government - online dating research topics
In addition to their extensive in-house services, Sallie Mae also acts as administrators for their client’s Federal student loans.College students will find that Sallie Mae can address all of their education related financial needs.
With Freedom Plus, there are a few options for getting discounts on your interest rate: Co-sign discount: Freedom Plus encourages co-signers and rewards borrowers who have one by lowering the interest rate.Retirement assets discount: Freedom Plus rewards applicants who are responsible about planning for retirement.Lenders don’t usually consider retirement assets as a factor when approving loans, “but we believe in planning, and we will reward borrowers [who have retirement asset plans] with a lower rate,” Toms says.Like all private lenders, Sallie Mae’s borrowing limits, interest rates and repayment plans are contingent on the borrower’s credit history.For those students holding Federal loans which are being managed through Sallie Mae, borrowing limits and repayment schedules will be set by the government.However, Sallie Mae understands that students often find themselves in difficult financial situations, and college loans can create sizable debt that can easily become unmanageable as graduates slowly move into the workforce.
For those students, Sallie Mae offers five loan repayment options designed to address the borrower’s changing financial situation.The repayment options discussed above have been put in place to address the needs of students wishing to lower their monthly payments, without the necessity for writing new consolidated loans.Students may still choose to consolidate their outstanding loans through another financial institution, in which case their new repayment plan will be governed by their new private lender. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Nerd Wallet rating: 4.5 / 5.0 Good for: Good credit, debt consolidation, co-signers Freedom Plus is an online lender with an old-school, personalized touch: When you apply for a loan, you’ll have a 15- to 20-minute phone call with a company representative. We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.The company offers a variety of student specific loans, including loans for undergraduate and graduate students, loans for career training, loans for medical and dental residencies, and loans for law students preparing for their bar exams.