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Financial Planning / Paying For College

URL:  http://boards.fool.com/my-loans-are-also-handled-by-sallie-mae-by-20361552.aspx

Subject:  Re: Refinancing Student Loans Date:  2/20/2004  11:17 PM
Author:  sprexumn Number:  5854 of 8174

My loans are also handled by Sallie Mae. By agreeing to have your monthly payments directly deducted from your checking account, you may qualify for a reduction of interest. I think its .25% per year for a max of 2%, but call Sallie Mae to be sure. My original rate was 9% and is now at 7.75%. I looked into reducing the rate with another consolidator, but this was the best option when I looked into it.

I found info on this at:


http://www.salliemae.com/manage/borrower_benefit.html

for the smart loan consolidation account. 1% discount for 36 months of on time payments, .25% for electronic.

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