It used to be that higher education was a luxury only the wealthy could afford. Now, thanks to student loans, you can go to college even if daddy doesn't have a six-figure bank account. Star Reviews searched through the Sallie Mae site to find out what this popular student loan service had to offer. Read the following review to see what we discovered.
What's New?
• Student loan consolidation now available.
• Loan-finder feature help students find the right loan.
• "Finding Free Money" page helps locate grant information.
Star Reviews' Favorite Feature:
We really liked the fact that Sallie Mae doesn't just offer student loans, but also provides students with valuable information on grants, scholarships and financial aid.
About Sallie Mae:
Sallie Mae is the nation's largest student loan provider and offers some of the best student loans in America. The company was established in 1972 as a government-sponsored organization, but has been a privatized institution since 2004. Now, in addition to offering federal student loans, Sallie Mae also offers private student loans and an abundance of student finance resources.
Navigating the Sallie Mae Website:
One thing we have to say about the Sallie Mae website is that it has a lot of information. In fact, it may have too much. Navigating the Sallie Mae website and locating the best student loans wasn't necessarily difficult, but all of the links and information did get to be a bit overwhelming. Here are some things to keep in mind when visiting the Sallie Mae website.
The main section of the Sallie Mae website focuses on three different categories including preparing for college, getting a student loan and what to do after graduation. The first time you visit the website, I suggest going through those sections one by one (in chronological order, of course).
If you're ready to apply for a Sallie Mae student loan, cut through the clutter and go straight to the application links. From there you can start your application and check on the status of your loan after you've submitted the app.
The good news is that even though Sallie Mae has an overwhelming number of pages to navigate, doing so won't take all day. The pages on the site all loaded quickly and we didn't encounter a single navigation problem.
Sallie Mae Website Features:
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Compare student loans.
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Financially prepare for school.
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Locate grant information.
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Apply for a student loan online.
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Check the status of your student loan.
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Manage your student loan online.
Loan Terms Available:
Minimum Loan Amount: N/A
Maximum Loan Amount: Varies depending on type of loan applied for.
Repayment Begins: Between 6 and 12 months after student graduates, withdraws or attends school less than half time.
Customer Support:
Star Reviews was very impressed with Sallie Mae customer service. The company offers customer support via an extensive FAQ database, a toll-free phone number and email support. When we called Sallie Mae, their customer support rep was very helpful, giving us in-depth information and helping us compare student loans (both private and federal) and repayment options.
Email support was also helpful (if not as timely), providing us with a response within 2 business days. This is great response time and we didn't expect any less from such a big name in student loans. The FAQs database and helpful resources available through this site are really a step above the rest and you shouldn't have a problem finding what you need.
Upside:
Comprehensive student loan information, compare student loans side by side, access to grant information.
Downside:
The site does contain a lot of information, so navigating it can be overwhelming.
Summary:
We couldn't do student loan reviews and not make mention of Sallie Mae. This is one of the most comprehensive student loan resource sites we encountered and they give you the option of comparing student loans side by side. You may also locate grant and scholarship information, which can greatly assist anyone needing a loan. The student loan repayment period ranges from 6 to 12 months post-graduation and minimum/maximum loan amounts vary depending on loan applied for. You can also consolidate existing student loans, as well. Navigating this website may prove to be a small challenge, as it's quite extensive and rich with resources. There is helpful telephone and email support, as well as a detailed FAQs section. We feel they deserve 5.5 Stars!