How many students from a middle-class family whose parents cannot afford college fees. Students have to leave their studies in between or completely reject the idea of going to college just because they cannot afford it.
Financially weaker sections of the society have been dwelling in this shadow of college expenses so much that they don’t even try to enter college instead join service sector and indulge in a menial job which pays them very low.
Whereas in comparison to their peers from the rich families who can afford college education those students take higher education and then go for a job which pays them well and also provides social security and better growth opportunity but to get this you have to invest a lot of dollars.
So, in this article, I am going to talk about a US banking firm which provides aspiring candidates with proper financial solutions so that you can complete your college education without any financial restrictions. This company is called Sallie Mae and you may have or may not have heard this name before. So, let us start from the very basics.
What is Sallie Mae?
Sallie Mae originally known as the Student Loan Marketing Association is an American banking company which provides private education loans to its customers. Set up in 1973 Sallie Mae used to provide federal loans which are subsidized by the US government but now the company has shifted itself towards private education loans.
What does Sallie Mae provide?
As discussed above, Sallie Mae is a private loan disbursing firm which provides financial services to pay your college fees. They also provide students with scholarships to help students with their studies.
Along with scholarships and educational loans Sallie Mae also provides you with college planning tools which helps you if you are planning to join college after working for some year so that you can plan accordingly for your finances.
How to go with it?
According to experts at Sallie Mae and other people who have experience in this industry, they all recommend collecting as much money as you can from scholarships and federal loans and they say it because if you have a scholarship you will not have to pay it back to anyone nor do you have to pay interest on it.
Sallie Mae online website has a scholarship search option in which if you register you can get all the results which are eligible for you and also get regular updates on your email about the same. Also, they help you with college application form and essay writings for your college application which is really helpful.
Secondly, you must fill out the FAFSA form which is a federal loan scheme provided by the government to students between the ages of 18 to 25. Eligibility criteria for FAFSA is :
Has registered with Selective services system.
- Has maintained Satisfactory Academic Progress.
- Has a valid Social Security Number
- Should have a high school diploma or GED
- Should have a signed certification stating that
- Not in default of federal student loan and does not owe any federal student grant currently
- Federal student aid will only be used for educational purposes.
- Should not be found guilty of the sale of illegal drugs while federal aid was being received.
These are some points which you need to take care of before applying for FAFSA application to get a federal educational loan. The best part of a federal educational loan is that it is a subsidized loan that means the interest on the loan amount is paid by the government and they also have better repayment options.
You can read More about FAFSA
Private Educational Loans
Sallie Mae and other financial firms in the US provide students with educational loans. Not, all the students applying for FAFSA(Free Application for Federal Student Aid) are given federal aid because of limited availability of funds so many students have to manage their way through private loans.
Sallie Mae just like any other private lender gives you an educational loan on full interest rates and you are also asked to name a co-signer as a guarantee in case you are not able to repay your loan yourself.
So, if you are currently looking for financial help to complete your higher education then I would advise you to firstly search on the internet and ask people around you about all types of scholarships which you can avail and apply for them an then apply for FASFA or other federal aid schemes for students.
If then also your college expenses are not covered then explore the option for private loans at the end so that you are borrowing as less amount as you can on full interest because you have to pay it on your own in the future.
I need sallie mae official website for more info
You Should go to Sallie mae website
I want Sallie mae official Contact Number for help
Have a question about one of our products or services? We’ve got helpful information for you. If you can’t find exactly what you need, call us at 800-472-5543.
I hope you understand about sallie mae and its work, Before Applying for student loan I will recommend you to Contact them from their official website salliemae.com or Contact above number provided
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