Best Student Loans of May 2021
- Best Site for Comparing Student Loan Offers: Credible.
- Best Overall Lender: Ascent.
- Runner Up for Best Lender: Citizens Bank.
- Best for Graduate Students: SoFi.
- Best for Co-Signers: Sallie Mae.
- Best for Refinancing: CommonBond.
- Best for Flexible Repayment Options: College Ave.
Regarding this, is Sallie Mae a good student loan?
Full Review
Sallie Mae’s undergraduate private student loans are best for those who want flexibility with repayment. For example, Sallie Mae offers lower interest rates to borrowers who make monthly $25 payments or interest-only payments while in school.
Secondly, what are the 4 types of student loans?
There are four main types of loans available to undergraduate students: Subsidized, Unsubsidized, Parent PLUS, and Private. We will review all them here, and help you understand your ideal choices for Student Loans, and types to avoid if possible.
Does Sallie Mae verify income?
Since you must be able to make loan payments on your own, Sallie Mae also requires proof of income and a credit check.
Is Sallie Mae forgiving student loans?
Sallie Mae and other private student loans can’t be forgiven. In fact, there are actually no official student loan forgiveness programs for any private student loan company. Federal student loan borrowers can use the Public Service Loan Forgiveness or Teacher Loan Forgiveness programs to wipe away their debt.
Does Sallie Mae approve bad credit?
Minimum credit score: Sallie Mae doesn’t disclose a minimum credit score requirement. In 2016, applicants that were approved for a Sallie Mae student loan had, on average, a 748 FICO score at the time of approval. Minimum age for borrowers: Borrowers must be the age of majority in their state (often 18 years old).