SallieMae Repayment tips

[RNrhythm, BSN, RN]

I have some hefty SallieMae loans that I have been repaying for a while. Does anyone have any advice on sources of repayment assistance?

Originally I thought I would qualify for assistance because I work for a non-profit. I thought if I made payments for 10 years the balance would be waived, but that only applies to certain types of government loans, not SallieMae. I have just started researching options, so I apologize if I seem uninformed at this point.

[marienm, RN, CCRN]

I don't know about repayment, but you could try to refinance them. My SM rate was 7 to 8% and variable; I refinanced a couple of years ago with Citizens Bank (I don't work there!) and got down to 2.35% fixed rate. No closing costs, just a lot of paperwork (since I had 2 years of Federal subsidized, unsubsidized, and AM loans).

I did try the NCLRP program my first year of work (at a qualifying hospital) and even though my debt exceeded my income I didn't get awarded a grant. It was a *lot* of paperwork and the a long wait only to find out I didn't get anything. I didn't try it any other year.