However, as a servicer, reviews are generally below average and focus on the lack of clarity.
There are a number of factors to consider when selecting a student loan servicer.
Before taking out a loan, make sure you explore what options and benefits are important to you to make sure you that you can stay ahead on your repayment.
Over the past decade, college costs and fees have risen 3.5% faster than inflation each year on average.
Student loans are considered higher risk than car loans, house loans and other loans you can get from a local bank.
Because of the size of Sallie Mae, they have the ability to offer competitive interest rates for both variable and fixed interest loans, as well as valuable benefits and incentives.
Recently, Sallie Mae selected Navient as the name for their new loan management, servicing and asset recovery company.
Rates Sallie Mae offers annual percentage interest rates between 5.74% and 11.85%, for a fixed rate loan, and between 2.25% and 9.37% for a variable rate loan.
As an incentive for prompt and consistent repayment, Sallie Mae also offers a 0.25 % interest rate deduction for those who use an automatic debit payment on their loan.