Sallie Mae Utah

Sallie Mae Utah is based out of Salt Lake City, Utah, and offers student financing options for their customers’ tuition payments. Sallie Mae Utah was started in 1997 by Tom and Bethany Hansen (owners). Because of their experience running a successful financial aid company, they have been able to create a system that offers students a solution for paying back their college loans. Sallie MaeUtah offers two different loan programs: the PLUS Loan Program and the Direct Loan Program. These programs allow students to pay back their loans while going to school and receiving their degree. Sallie Mae’s PLUS Loan program helps parents who need help funding education for their children. Parents can get a fixed rate on the amount they borrowed, interest rates start at 6.8% APR. If you don’t have a job after graduating, Sallie Mae Utah will work with you to find employment. The loan pays off over five years, however, if you are employed full time, then the repayment period would be reduced to three years. There are no prepayment penalties and it doesn’t matter how much money you borrow, the payments will increase each year. To qualify for the PLUS Loan Program, you should be enrolled in a minimum of 12 hours per credit hour and have a cumulative GPA of 2.0 or higher. Students attending community colleges can apply to the program as well. The Direct Loan Program is offered to those students who do not meet the criteria for the PLUS Loan Program. The Direct Loan Program pays off the loans within 10 years, and you will not be charged any extra fees on top of what you already owed. You may be eligible for federal grants, too, if you attend schools that offer them.

Sallie Mae Utah

Sallie Mae is a non-profit organization established in 1972, designed to help students complete their education. In 2005, the company changed its name to Sallie Mae Inc., after a $6 billion lawsuit settlement. Sallie Mae now provides financial services to thousands of higher education institutions and companies across the United States and Canada.

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