SM Student Loan Consolidation Progr

Discussion in 'Credit Talk' started by linzzie, Jun 8, 2001.

  1. linzzie

    linzzie Member

    I was just talking to a person from Sallie Mae in regards to student loans. They apparently have a new program called "Smart Loans" wich can consolidate student loans from other lenders into one account. They seem to work out new interest fees (not higher than 8.25%). Here is the link:

    Hope this is of use to someone!
  2. Shantel

    Shantel Well-Known Member


    The Smart Loan isn't new actually. I consolidated my student loans in 95 using the Smart Loan. It's good if the interest you are being charged is equal or higher but may not be great if your interest on existing loans is lower that 8.25.

    Also, if you have the payment taken directly out of your account, you qualify for a 1/4% interest reduction. It's not great, but it's pretty good.

    By the way, I've never had a problem with Sallie Mae and the program.

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