With No Fees and Competitive Interest Rates, Sallie Mae Eases the Stress of Relocating as Match Day Approaches
NEWARK, Del., March 13, 2013 - March 15 is Match Day when 38,000 medical students will learn where they will complete their residencies. Sallie Mae can assist these aspiring doctors, as well as fourth year veterinary medicine and dental students, who may need help covering the expenses of relocating to their residencies.
Sallie Mae's Residency and Relocation Loan offers competitive interest rates and no disbursement fees to pay for travel and relocation costs that were not factored into the budgeted cost of attendance. Medical, veterinary, and dental students in their final year of study may request a loan amount of their choice from a minimum of $1,000 up to a maximum of $20,000. Students may apply with a cosigner to increase the likelihood of approval. Customers are in control of their funds because the disbursements are made directly to them.
Other benefits include:
Flexibility: Customers can defer payments for three years after graduating and interest capitalization does not occur until the end of this period. Quarterly interest statements provide reminders of unpaid accrued interest and encourage customers to make payments during this period to save money over the life of the loan.
Competitive Rates: Sallie Mae offers competitive interest rates and rewards good credit. Customers also may qualify for a .25 percentage point interest rate reduction by signing up for automatic electronic payments.
Upromise by Sallie Mae: Sallie Mae's Upromise Loan Link service can help customers pay down loans even faster as the rewards they earn from eligible everyday purchases apply to their balance.
Details on the Residency and Relocation Loan are available at www.salliemae.com/student-loans/graduate-student-loans/.
Sallie Mae (NASDAQ: SLM) is the nation's No. 1 financial services company specializing in education. Celebrating 40 years of making a difference, Sallie Mae continues to turn education dreams into reality for American families, today serving 25 million customers. With products and services that include 529 college savings plans, Upromise rewards, scholarship search and planning tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.