New User Sign Up  |  Sign In  |  Help
ask
answer
discover
     
Search for questions :
My Profile

peterwild

Open Question Bookmark and Share

Is Sallie Mae Smart option student loan is a good private student loan without cosigner ?

After taking the federal loans I was looking for the private loans for further studies. I found Sallie Mae and there is a loan named Sallie Mae Smart Option Student Loan. I am little confused with the annual percentage rate that is associated with this loan program. Please give me full details.

840 day ago

    Comment(s) (0)
    Report Abuse
   Find Intereseting  
   E-Mail to Friends  
   Bookmark  
   Subscribe to Answer Alert  
No comments yet !!!     Be the first to comment
Answers (1)

juliasandrick 		Sallie Mae is one of the leading private student loans lenders who has made career of thousands of students by giving them a steady source of money for education. They provide Private student loans without cosigner. The APR also known as Annual Percentage Rate is a variable rate and it will increase if the applicable index (one month LIBOR rate) increases.

Let me give you an example for better clarification. If you have chosen the 4.25% APR then the interest rate will be LIBOR+4%. You don’t have to pay the disbursement fee and repayment fee. The monthly interest only payment for school period and 6 month separation period will be four payments of $9.74 (first disbursement) and 47 payments of $19.48 (second disbursement). The monthly principal with interest will be $86.68. In 72 months repayment period you will have to pay around $7,195.21

These loans are good options and do not require a cosigner so are also called student loans without cosigner. As you have taken the advantage of federal loans, this loan program will be one of the most deserved loan program. You may visit its official site for more details.

Posted 840 days ago

( 0 )
( 0 )
    Comment(s) (0)
   Report Abuse
No comments yet !!! Be the first to comment on this answer !!!

Email this question link to friends
You must enter email-address, if name is entered and vice-versa for each friend.
Friend #1 -
Friend #2 -
Friend #3 -
Friend #4 -
Friend #5 -
  Your comment on this question
Max Allowed : 5000 Characters Current Count : 0
  Your comment on this answer
Max Allowed : 5000 Characters Current Count : 0