Eligibility

• You must be a U.S. citizen or permanent resident and have an established credit history.
• The institution you are attending must be licensed or accredited by the department of education in the states where they do business.

Features

• The Continuing Education Loan has interest rates and fees that reward good credit.
• If you have less-than-ideal credit or no credit at all, you can still be eligible for the Continuing Education Loan by applying with a creditworthy cosigner.
• You may borrow for both tuition and other education-related expenses.
• You get the convenience of combined billing for all of your Sallie Mae-serviced loans.
• Creditworthy borrowers may request a cosigner release after making the first 24 consecutive, on-time monthly payments of principal and interest as initially scheduled.¹
• There is no prepayment penalty.
• You can manage your account online 24/7.
• You get life-of-loan servicing from Sallie Mae.
• Flexible repayment terms are available including the option to defer payments (or make interest-only payments) while you are in school. A minimum payment applies.²

Loan terms

Loan limits

There is no aggregate loan limit.

Interest rates

• Manage your credit well and you may qualify for a lower interest rate.
• The Continuing Education Loan has interest rates that are variable and reset monthly.

Repayment

• You may take up to 15 years to repay your loan.
• With the standard repayment option, you make level, monthly payments of principal and interest. The minimum monthly payment is $30.
• With the interest-only repayment option, you make interest-only payments while you are in school and begin standard repayment of principal and interest once school is completed.
• With the $10 deferred repayment option, you may defer payments for up to 12 months, not to exceed the anticipated graduation date on the application. You are required to make a $10 monthly payment during deferment. This $10 monthly payment will be applied toward the interest that accrues on the account during deferment.

Another way to help pay down your loan

With Upromise Loan Link^SM student and parent borrowers who join Upromise^® can link their Sallie Mae loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae-serviced student loans. Visit www.salliemae.com/upromise to learn more and enroll today.

Legal

Continuing Education Loans are funded by Sallie Mae Bank^® or a Sallie Mae lender partner. Continuing Education Loans are made by state or federally chartered financial institutions and are sold after full disbursement to a Sallie Mae company.

1 The account must remain current until the request for release is processed. Borrower credit qualification applies. Borrower must be a U.S. citizen or permanent resident at the time the cosigner release request is processed.

2 Deferring payment while in school will increase overall loan costs. Loan fees will be capitalized (added to your loan amount) at repayment.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS.

Subject to the above, Continuing Education Loan information applies to loans first disbursed June 22, 2008 through May 31, 2009.

Upromise is not limited to Sallie Mae loan customers.

Sallie Mae and Sallie Mae Bank are registered service marks of Sallie Mae, Inc. SLM Financial Corporation is a registered service mark and Continuing Education Loan is a service mark of SLM Financial Corporation. Upromise and Upromise Loan Link are service marks or registered service marks of Upromise, Inc.