Sallie Mae

Gompers, BSN, RN · Sep 4, 2004

I had a Stafford loan during school and when I graduated and it came time for repayment, it was all handled through Sallie Mae. I have nothing but good things to say about them. They have a website for borrowers (and potiential borrowers I believe) to check their current loan status, when the next payment is due, how much is left, payment history, etc. You can have your monthly loan repayment directly taken out of your bank account, or schedule payments ahead of time so you don't have to worry about them.

I was 18 years old and didn't have a penny to my name when I got the Stafford loan. Sallie Mae didn't start asking for payments until 3-4 months after graduation, and then it was only if you already had a job - you can defer for awhile if not. A friend of mine has deferred his loan for the past six years! He'll have a hard time ever buying another car or a house, but at least they're not knocking down his door all the time. They know he's screwing himself, LOL.

Trauma Columnist · Sep 4, 2004

I did Stafford loans for my RN in 94 through Sallie Mae and then in 2002 took out additional loans for my BSN completion and now MSN and Sallie Mae has handled it all. Absolutely no problems. The loans are guaranteed by the government though so it is very important not to default or get behind in repaying them. Good luck.

tonicareer · Sep 4, 2004

I did Stafford loans for my RN in 94 through Sallie Mae and then in 2002 took out additional loans for my BSN completion and now MSN and Sallie Mae has handled it all. Absolutely no problems. The loans are guaranteed by the government though so it is very important not to default or get behind in repaying them. Good luck.

So Sallie Mae only has Stafford loans? Not their own loans? Well not for me then because I don't qualify for Stafford loans according to the applications I already did. Wonder why they sent me these applications when I don't qualify under FAFSA for federal or state aid? I thought Sallie Mae had it's own loan program.

MistyLou · Sep 4, 2004

So Sallie Mae only has Stafford loans? Not their own loans? Well not for me then because I don't qualify for Stafford loans according to the applications I already did. Wonder why they sent me these applications when I don't qualify under FAFSA for federal or state aid? I thought Sallie Mae had it's own loan program.

Have you tried getting in touch with a local hospital?? I am working with a nurse recruiter and in exchange for a 2-year RN work committment, they are paying $7000 over a 6 quarter timeframe. There are a couple ways that you can get this but the route I went was through my school's ACE program. I basically jumped ahead of hundreds of people on the waiting list because of my GPA. I wrote an essay and interviewed with the DON and 3 clinical advisors. The deal with the hospital was optional and has nothing to do with the school aside from them giving me the references. Some choose not to go that route because of the work committment afterwards.

I was not eligible to receive the subsidized/unsubsidized; however, I did get the one that was not based on your income. I'm not sure which is which but one of them is based on financial need, so I was having to pay quite a bit of money for my schooling.

Good luck! Try getting in touch with a hospital to see if they offer any type of scholarships in exchange for a work committment.

FarmgrrlRN · Sep 4, 2004

http://www.salliemae.com/apply/borrowing/signature.html

Here is the link to their Signature Loan with more detailed info. They do have loans beyond Gov't student loans.

tonicareer · Sep 5, 2004

No tuition reimbursement in my area. Didn't I say that? I wish. Some places simply don't have the money for that. Plus there is no shortage here - hospitals closing and others laying off nurses.

TLC RN · Sep 5, 2004

I went private on my own. Looking at sallie mae's site, I think they have options for private loans.

I took out a loan with bankone. It is an educational loan. They have a couple different options. If you have good credit and are working full time you can qualify on your own. They also had an option as a "creditworthy" student. In this case, you going back to school and had time to develop a credit history and they could approve you if you had I assume really, really good credit. Or you can get one with a co-signer.

prinzessdy · Sep 5, 2004

Sallie Mae has private loans. The one I have is called the signiture loan. It is disbursed thru your school, which seems to take forever, but the interest rates are really good.

SBUalum03 · Sep 7, 2004

So Sallie Mae only has Stafford loans? Not their own loans? Well not for me then because I don't qualify for Stafford loans according to the applications I already did. Wonder why they sent me these applications when I don't qualify under FAFSA for federal or state aid? I thought Sallie Mae had it's own loan program.

Check into their Tuition Assistance Loan...it's for the working student. You have to make at least $15,000 a year and show proof of income and enrollment in a school at least part-time. They make the check out to you and not to the school. You can borrow $1,500-$35,000 a school year. You should be able to apply on the salliemae.com website. Good Luck!

danaRN2b · Sep 7, 2004

My husband got a loan through Sallie Mae to go to welding school a few years ago. We had to have a co-signer due to our, um, credit, but we were able to borrow his tuition amount and then some so he didn't have to work while going to school full-time. We had to make interest only payment while he was in school, then full payments after that. We borrowed around $12,000 and our payments are about $130.00 a month. The only time we've had a problem was when they failed to post a payment that we sent (on time) and they hounded us and my father (the co-signer) mercilessly, threatening to destroy his credit, for two months until they finally found where they had put the payment!