Sallie Mae has a Rate Reduction Program that can help you get a lower Sallie Mae interest rate and, as a result, lower your monthly payments.

Is Sallie Mae subsidized or unsubsidized?

This increases your total federal loan cost. Direct PLUS Loans are unsubsidized credit-based federal loans for parents of dependent students and graduate/professional students.

Can Sallie Mae garnish my wages?

Private student loans can’t garnish your wages until they sue you and get a judgment. They usually don’t sue right away. More commonly, they sue a few years after your last payment. Those are the everyday things that happen when you don’t pay Navient regardless if the loan is federal or private.

What are the repayment options for Sallie Mae student loans?

When you apply for a Sallie Mae Smart Option Student Loan ® or a graduate student loan like the Graduate School Loan, MBA Loan, Graduate Loan for Health Professions, Law School Loan, Medical School Loan, or Dental School Loan, you can choose one of three in-school repayment options 2:

How to get Sallie Mae to lower your private loan interest rate?

An expert’s guide to getting Sallie Mae to lower the interest rate on your private student loan through the rate reduction program. Navigation Life with Loans Federal Repayment Plans Loan Forgiveness Programs Get Lower Interest Rates Buying a Home Retirement Planning Tax Strategy Loan Reviews The Best Student Loan Refinance Rates SoFi CommonBond

Do you have to pay Sallie Mae prepayment penalty?

And you don’t have to worry about a Sallie Mae prepayment penalty: The lender doesn’t charge one. If your Sallie Mae loan has a high interest rate, you could save a substantial amount of money by refinancing your student loans. With refinancing, you take out a new loan for some or all of your current ones.

What to do if you miss a student loan payment?

If you fall behind and miss a student loan payment, you could try to work your way out of delinquency employing one of these options, including the Salle Mae rate reduction program: How much will Sallie Mae reduce your interest rate?