The Teach and Care programs for Maryland have been discontinued effective with loans first disbursed 2/1/08. Loans first disbursed before that date continue to be eligible for the Teach/Care benefits in accordance with the program's terms and conditions.
Teach for Maryland®
Terms and conditions apply. Sallie Mae reserves the right to modify, continue, or discontinue borrower benefit programs at any time without notice.
The first benefit installment you may receive on your eligible loans will vary based on the lender you select. If your lender is Nellie Mae, Sallie Mae Education Trust, or a participating Sallie Mae lender partner, you are eligible to receive in the first installment a cash back benefit equal to 3.3%, or a different amount, depending on the school you attend. To qualify for this cash back benefit: (1) before entering repayment, sign up on Manage Your Loans at www.salliemae.com/manage to receive Sallie Mae account information by email, and (2) make the first 33 monthly payments by the due dates as initially scheduled. If the first benefit installment from Nellie Mae, Sallie Mae Education Trust or a participating Sallie Mae lender partner will vary from 3.3%, that information will be communicated to you, the borrower, on your Manage Your Loans account and may also be communicated through brochures available on campus.
If your lender is AMS, you are eligible to receive in the first installment a 3% benefit (or other amount, depending on the school you attend) that is awarded in two parts. To qualify: (1) provide proof of graduation; (2) receive one-half back at the beginning of repayment, and (3) receive the remaining half back after making the first 12 monthly payments by the due dates as initially scheduled. If the first benefit installment from AMS will vary from 3%, that information may be communicated through brochures available on campus and will be communicated to you, the borrower, after separation from school.
For all borrowers: To qualify for the subsequent benefit installment equal to 6.7%: (1) before entering repayment, sign up on Manage Your Loans at www.salliemae.com/manage to receive Sallie Mae account information by email; (2) the borrower makes the first 36 monthly payments by the due dates as initially scheduled, and (3) after receiving the qualifying Stafford loan and within five years after the initial repayment begin date on the qualifying Stafford loan, receive a valid Maryland teaching certificate and teach full time for at least 36 months in one or more state-approved public or private K-12 schools located in Maryland. Certification of borrower eligibility is required to receive the 6.7% benefit. Borrowers must supply complete certification documentation within six months of qualifying for the 6.7% benefit.
The entire Teach for Maryland benefits described may be up to, equal to, or exceed 10%, and portions of the benefit installments may be awarded as a loan credit or check. These benefits are based on the original principal balance of Stafford loans obtained to attend a school located in Maryland and first disbursed July 1, 2005 through June 30, 2006 with a participating Sallie Mae brand or lender partner. Loans must be owned and serviced by Sallie Mae throughout repayment.
Care for Maryland®
Terms and conditions apply. Sallie Mae reserves the right to modify, continue, or discontinue borrower benefits programs at any time without notice.
The first benefit installment you may receive on your eligible loans will vary based on the lender you select. If your lender is Nellie Mae, Sallie Mae Education Trust, or a participating Sallie Mae lender partner, you are eligible to receive in the first installment a cash back benefit equal to 3.3%, or a different amount, depending on the school you attend. To qualify for this cash back benefit: (1) before entering repayment, the borrower signs up on Manage Your Loans at www.salliemae.com/manage to receive Sallie Mae account information by email, and (2) the borrower makes the first 33 monthly payments by the due dates as initially scheduled. If the first benefit installment from Nellie Mae, Sallie Mae Education Trust, or a participating Sallie Mae lender partner will vary from 3.3%, that information will be communicated to you, the borrower, on your Manage Your Loans account and may also be communicated through brochures available on campus.
If your lender is AMS, you are eligible to receive in the first installment a 3% benefit (or other amount, depending on the school you attend) that is awarded in two parts. To qualify: (1) provide proof of graduation; (2) receive one-half back at the beginning of repayment, and (3) receive the remaining half back after making the first 12 monthly payments by the due dates as initially scheduled. If the first benefit installment from AMS will vary from 3%, that information will be communicated to you, the borrower, after separation from school and may be communicated through brochures available on campus.
For all borrowers: To qualify for the subsequent benefit installment equal to 6.7%: (1) before entering repayment, the borrower signs up on Manage Your Loans at www.salliemae.com/manage to receive Sallie Mae account information by email; (2) the borrower makes the first 36 monthly payments by the due dates as initially scheduled, and (3) after receiving the qualifying Stafford loan and within five years after the initial repayment begin date of the qualifying Stafford loan, be licensed in Maryland as an LPN, RN, or RN Advanced Practice Nurse and work full time for at least 36 months as a Nurse or Nurse Administrator at an eligible healthcare facility or program in Maryland. Eligible programs and facilities include, but are not limited to, hospitals, clinics, doctors' offices, school nurse programs, public health programs, the Red Cross, hospice programs, nursing homes, or healthcare agencies providing home healthcare, that require a nursing license of LPN, RN, or an RN Advanced Practice certification. Borrowers who earn a masters or doctoral degree in nursing will also be eligible for this benefit program if they meet all the requirements described above except as noted here: To meet the education requirement, the borrower must complete an approved master or doctoral program, and to meet the employment requirement, the borrower must work 36 months after receiving the qualifying Stafford loan in a full-time administrative or instructional capacity for an approved nursing diploma program or for a 2- or 4-year public or private institution of higher education in Maryland. For all borrowers, certification of borrower eligibility is required to receive the 6.7% benefit. Borrowers must supply complete certification documentation within six months of qualifying for the 6.7% benefit.
The entire Care for Maryland benefits described may be up to, equal to, or exceed 10%, and portions of the benefit installments may be awarded as a loan credit or check. These benefits are based on the original principal balance of Stafford loans obtained to attend a school located in Maryland and first disbursed July 1, 2005 through June 30, 2006 with a participating Sallie Mae brand or lender partner. Loans must be owned and serviced by Sallie Mae throughout repayment.