April is Financial Literacy Month, and this issue of At Your Service focuses on some of the ways Sallie Mae® helps students successfully manage their credit. To find tools to support your financial literacy efforts, visit
Getting off on the right foot can make all the difference when it comes to successfully repaying student loans. That's why Sallie Mae provides detailed repayment information to students as they leave school and when they begin repayment.
For example, we offer a handy flyer that lists The Top 10 Things to Do When It's Time to Repay Your Student Loans. The flyer advises students to:
Sallie Mae makes it easy for customers to make an informed decision about which repayment plan works best for them. For example, they can use our online account management tool to model and compare repayment plans using their actual account information.
Customers can select either Standard Repayment, Graduated Repayment, or (if eligible) Extended Repayment. In addition, depending upon the program under which their loan was made, they can choose from among three repayment options based on their income:
Customers whose financial circumstances change can also use the online account management tool at SallieMae.com to quickly and easily change repayment plans. In addition, Sallie Mae customer service representatives are available by phone at 1-800-722-1300 to help customers weigh the advantages of each option.
Sallie Mae has added several new tools to its library of financial literacy materials. These include an interactive budget worksheet, a financial goals planner, and a list of tips on saving money.
My Monthly Budget lets customers create a detailed budget by filling in numbers for common income and expense categories. They can then fill in the actual numbers each month and the worksheet will calculate how much spendable income they have at the end of the month. It's an easy way to manage a budget.
Money-Saving Strategies is a helpful flyer that can work effectively with My Monthly Budget, described above. For customers whose budget leaves them short each month, the flyer suggests ways to cut down their expenses and get their budget back into the black.
My Financial Goals helps customers get a better sense of what they need to do to reach selected goals that require financial discipline and saving. The interactive sheet lets customers calculate the amount of time it will take to achieve each of their goals using various financial scenarios.
Sallie Mae is continually building an archive of financial literacy materials for its student and parent customers. Look for additions to the archive by going to SallieMae.com/EDServicing.
Sallie Mae sends its customers a quarterly bedebtsavvy newsletter that provides credit management tips along with links to the more detailed website, SallieMae.com/bedebtsavvy.
Among the topics covered are:
For more information, go to SallieMae.com/bedebtsavvy.
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