How do I make a payment to Sallie Mae?

By phone. You can make personal loan payments through our automated phone system. Just call 800-472-5543 (800-4-SALLIE) and have your bank account information ready. Payments by phone will be effective the same day for which they are scheduled.

Why is Sallie Mae so bad?

Private loans were often profitable for the company, but a portion of them — the riskiest part of Sallie Mae’s portfolio — were not. The company made subprime loans to students who would not otherwise qualify, including borrowers with poor credit who took out loans to attend schools with high dropout rates.

How do I get my Sallie Mae billing statement?

You can locate your statement by logging in to your account at SallieMae.com. Click on Print Statements and Documents under the Customer Support tab. You’ll receive a monthly statement; however, this is not a bill.

Can Sallie Mae take money from my bank account?

The Department of Education and private lenders can take money from your bank account to recover student loan debt that’s in default. But they cannot garnish your accounts automatically.

Why did my Sallie Mae payment increase?

A variable interest rate may go up or down due to an increase or decrease to the loan’s index. Variable interest rates usually start out lower than fixed rates, but can change, so your monthly student loan payments may vary over time. This means you’ll have predictable monthly student loan payments.

What address to send payment to Sallie Mae address?

Include the remittance slip and 16-digit Loan Number with your payment to ensure it is properly applied to your loan.

Make your check or money order payable to Sallie Mae and mail your payments to the payment address.

We cannot process instructions written on the check or remittance slip.

Payment address: Sallie Mae P.O.

Does Sallie Mae take credit card payments?

If you call Sallie Mae, they will accept a credit card payment using MasterCard, Visa, Amex, or Discover up to the amount on your monthly billing statement.

Is Sallie Mae a good student loan lender?

Sallie Mae is a great option for those interested in borrowing from a well-established lender with low rates, low fees and a variety of loan options. It could be a good fit for undergraduate students, graduate students, parents and sponsors of students who have exhausted scholarship, grant and federal loan opportunities.

Does Sallie Mae offer personal loans?

Quick Review: Sallie Mae personal loans are only available to people who have received a pre-qualified offer code. It’s impossible to submit an application without one. Sallie Mae doesn’t disclose their minimum requirements, but they only send out offers to people they believe will be qualified.