Stafford terms and conditions:
Sallie Mae Education Trust rewards borrowers for consistently making their payments on time and taking advantage of Sallie Mae's Web-based account services. Sallie Mae Education Trust is dedicated to helping students manage their loan debt responsibly by offering an account credit after consistently paying on time, which helps reduce their overall loan indebtedness.
Sallie Mae Education Trust will pay the origination fee on the borrower's behalf on Stafford loans for academic year 2006–07 guaranteed beginning May 1, 2006. Sallie Mae Education Trust will also pay the 1% federal default fee on the borrower's behalf on Stafford loans that are guaranteed by USA Funds or NELA July 1, 2006 through June 30, 2007.
To qualify for the additional 3% in account credits, a borrower simply does the following:
- Prior to entering repayment, sign up on Manage Your LoansSM, Sallie Mae's online account management tool, to receive account information via email; and
- Make your first 24 payments by the due dates as initially scheduled to receive a 2% account credit and the next 24 payments according to that schedule to receive an additional 1% account credit.
The 3% Stafford loan credits are available on Stafford loans first disbursed July 1, 2006 through June 30, 2007. The loans must be owned and serviced by Sallie Mae® throughout repayment. The loan credit borrower benefits are based on the original principal loan balance.
Terms and conditions apply. Sallie Mae reserves the right to modify, continue or discontinue borrower benefit programs at any time without notice. Sallie Mae is a registered service mark and Sallie Mae Education Trust and Manage Your Loans are service marks of Sallie Mae, Inc. Sallie Mae, Inc. is a wholly owned subsidiary of SLM Corporation. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
© 2006 Sallie Mae, Inc. All rights reserved. |
