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Frequently asked questions federal and private loansBilling, Payments, FeesCan I change my monthly payment due date? Yes. If your account is not delinquent, you can request a change to your due date. This date must be on the 1st through the 28th of the month. The payment due date cannot be changed to the 29th, 30th, or 31st of the month.Note: Before the due date can be changed, the current month's payment must be received. For example, if the current due date is the 28th and you wish to change it to the 1st, we can't make the change until the current month's payment has been made. After the payment due date change has been made, the next payment will be due on the 1st of the following month. To proceed with a date change, send an HYPERLINK "javascript:Submit('menu_emailUs')" email request with the specific payment due date from the 1st through the 28threquest a change to your due date .[Top] How are my payments applied? When we Sallie Mae receives a payment, we usually apply it first to late fees (if any), followed by unpaid HYPERLINK "javascript:NamedAnchor('menu_glossary;Accrued_Int')" accrued interest, and then to the loan principal balance. Note: (The order of the application may vary depending on the requirements of your Promissory Note.) Interest on your loan(s) accrues daily, so the total amount of interest you'll pay during repayment can vary depending on when your payments are received. It's to your advantage to send your payments on time, or early, to avoid paying additional interest and late fees.[Top] How can I order a coupon book? If you're eligible to receive a coupon book, there's no need to request a new one. We'll automatically send you a new coupon book.If you're due for a new coupon book and have not yet received one, your account may not be eligible to receive coupons due to any one of the following reasons:your account is paid ahead, your account is in HYPERLINK "javascript:NamedAnchor('menu_glossary;Deferment')" deferment, or your account is in HYPERLINK "javascript:NamedAnchor('menu_glossary;Forbearance')" forbearance. Or, HYPERLINK "javascript:Submit('menu_EBPP_Paynow')" make your payment online today. If you'd rather HYPERLINK "javascript:Submit('menu_customerService')" mail your payment, write your 10-digit HYPERLINK "javascript:NamedAnchor('menu_glossary;Account_number')" account number on the check or money order and enclose a note with special instructions for the paymentWe would be happy to send you a coupon book. Order your coupon book. Note: if you just opened an account that is eligible for a coupon book it will automatically be sent to you within the next 30 days. [Top] I applied for automatic debit. Why hasn't my payment been withdrawn yet? It's important to note that it can take up to three weeks to activate your automatic debit request. Please be sure to continue making payments until you're notified that your auto-debit request has been processed.If it's been more than 15 business days since you submitted your request, please contact us for assistance so we can look into this for you.[Top] On my loan application I originally chose to make payments while I am in school. Can I now request to have my loan payments postponed? You may be eligible to defer your payments, please visit Deferment Eligibility for more information.[Top] What happens when my automatic debit payment date falls on a weekend or holiday? If your payment due date falls on a weekend or bank holiday, the payment will be deducted from your bank account on the next business day. Your online records may temporarily reflect your account as past due until the payment has posted.[Top] Where can I send make my payment? You can send make a one-time payment or schedule future payments by using one of our severalthe choices below: HYPERLINK "javascript:Submit('menu_makeAPayment')" Manage Payments and Bills HYPERLINK "javascript:Submit('menu_autoDebitEnroll')" Automatic Debit HYPERLINK "javascript:Submit('menu_customerService')" Mail Your Payment Note: If you don't have a coupon or bill, please be sure to write your account number on your check or money order.[Top] Why did my monthly payment increase? Your monthly payment amount may have changed for one of the following reasons:The HYPERLINK "javascript:NamedAnchor('menu_glossary;Int_Rate')" interest rate on your loan has changed due to something called indexing. Indexing is when a variable loan rate is adjusted by a generally accepted reference rate. a change in the Index, which may be HYPERLINK "javascript:NamedAnchor('menu_glossary;LIBOR')" LIBOR. The London Inter-Bank Offered Rate or LIBOR is an interest rate that is a widely used as a short-term market index upon which private student loan interest rates are based.Unpaid accrued interest has been capitalized, which means it has been added to your loan principal and you are now incurring interest on and making payments on a larger HYPERLINK "javascript:NamedAnchor('menu_glossary;Prin_Bal')" principal balance.If you elected an interest-only or a reduced repayment plan that allowed you to make lower payments for a period of time (such as graduated repayment, extended repayment, or income-sensitive repayment), your initial period of lower payments may have ended.If you've changed repayment plans, your new payment plan may require higher monthly payments.One of or more of your loans have been transferred to Sallie Mae from another HYPERLINK "javascript:NamedAnchor('menu_glossary;Servicer')" servicer; therefore, your bill includes the payment for additional loan(s).You've received an additional loan disbursement.To view all of your loans, please visit your HYPERLINK "javascript:SubmitMYL('/loanSummary')" Loan Summary.[Top] Why do I have an origination, supplemental or default fee? Depending on the loan program and the terms of your loan's HYPERLINK "javascript:NamedAnchor('menu_glossary;Prom_Note')" Promissory Note, you may be assessed a fee(s).Different loans have different fees. The three most common are:The federal default fee - is an insurance fee charged by the guarantor (in this case the federal government) to the lender. The borrower isThis fee is passed through to you then charged by the lender. Thise fee is used to offset the cost of insuring the loan should the loan default through non-payment, death, permanent and total disability, bankruptcy, ineligibility, fraud, or school closing.The origination fee - the fee is charged by the lender to offset the cost of interest, special allowance, and reinsurance payments.Supplemental fee - [Top] Why is my current balance different from my 10-day payoff figure? Your current balance does not include the accrued interest currently due on the loan. When paying your loan balance in full, you need to satisfy the accrued interest and fees, if any.The payoff figure includes all accrued interest currently due on the loan plus 10 days of future interest (to allow for mailing time). If the payoff is not received within 10 days, you may need to send an additional payment.[Top] Why is the late charge different on my private student loans than on my federal loans? The amount charged varies between loan programs.[Top] Why isn't my payment shown online? If you do not see your payment on the Loan Summary or Payment History page, we may not have received your payment or it is currently being processed.Some rReasons yYour pPayment mMight nNot sShow:If you mailed a payment, allow three to five business days for us to receive it. If you made a payment over the phone, it will be posted within two business days. If you submitted your payment online, the effective date will be the date Sallie Mae receives the funds from your bank. If none of these reasons apply, please contact us for assistance.[Top] Can I pay by credit card or PayPal?Cosigner Release How long does it take to process a request for a cosigner release? It may take up to 7-10 business days for you to hear back from us, when you take into account mailing and processing time. We'll notify you of a decision or if additional information is needed.[Top] Deferment and forbearance What is a deferment?A HYPERLINK "javascript:Submit('global_deferment_eligibility')" deferment allows you to postpone payments for a period of time. For eligible federal loans, you are not responsible for interest that accrues during the deferment.What is a forbearance?A HYPERLINK "javascript:Submit('menu_postponePayment')" forbearance allows you to temporarily postpone or reduce your payments. It’s offered to assist you in times of need. You are responsible for the interest that accrues during this time. Note: If this accrued interest is not paid during the forbearance period, it will be capitalized (added to your HYPERLINK "javascript:NamedAnchor('menu_glossary;Prin_Bal')" principal balance). In addition, you may incur a fee.Can I end my forbearance early? Yes. You can end your forbearance at any time. Please Simply contact us for assistance.[Top] Can I get another forbearance if mine is about to expire? Yes, as long as the loan is eligible and you have enough forbearance time remaining.[Top] Can I make payments on my loans while I am in an in-school, grace, or deferred status? Yes. It's a great idea to make payments while you're in school. This will save you money over the life of your loan.You can make a payment quickly and securely online.Or, mail us your payment. Please be sure to write your account number on your check or money order and how you would like the payment applied.[Top] How can I keep my payment from increasing at the end of the forbearance? We suggest you pay the interest that accrues while your loan is in a forbearance. Any payments you make during your forbearance will lower the amount of interest to be capitalized (added to your principal balance) at the end of the forbearance period, which will save you money over the life of your loan.[Top] How do I put all of my loans that Sallie Mae services into a forbearance? To determine which of your Sallie Mae-serviced loans are eligible for forbearance, please refer to Forbearance Eligibility.[Top] How long may I postpone my payment? A payment can be postponed from one day to one year using a forbearance or deferment. Please go to Postpone and Reduce Your Payments to learn more.If you're lookingyou would like to change the date your payment is due, please simply contact us for assistance.[Top] I can't pay, but I am out of forbearance time. What can I do? If making payments is difficult right now, please refer to Having Difficulty Paying? for information on available options.[Top] I'm currently in school and my loans with my other lender are deferred. Why aren’t my Sallie Mae loans notalso deferred? If your loan(s) is eligible for in-school deferment, we may not have received notification that you're attending school. If your school reports enrollment data to the National Student Clearinghouse, we should receive your information automatically. Otherwise, simply visit the Deferment Eligibility page for a deferment form and have your school certify your enrollment dates. Submit the form so we can update your account.If you have a Smart Option Loan that requires payments while you're in school, it's important to note that even during deferment you may still have to make reduced payments. Please refer to your Promissory Note for additional details.[Top] I'm volunteering with the AmeriCorps/Corporation for National and Community Service. How do I apply for forbearance? There are two ways you can apply for forbearance during your service:Visit My. to apply online, orDownload and complete a Corporation for National and Community Service Forbearance Form then mail it to:Corporation for National and Community Service1201 New York Avenue, NWWashington, DC 20525Please continue to make your scheduled monthly payments until you're notified that your forbearance has been approved.[Top] If I've returned to school or I'm participating in an approved internship or residency program, is my private student loan(s) eligible for deferment? Please review the Payment Postponement Eligibility section to see options based on your loan type.[Top] Is there an impact to my credit if I postpone (forbearance or deferment) my payments? No. There should be no negative impact to your credit report if you postpone your payments.[Top] My current deferment is about to end and I would like to extend it. Do I need to reapply? If you're using in-school deferment and are still eligible for it, in most cases, you will not need to reapply for an in-school deferment if your school uses the National Student Clearinghouse to report enrollment information. However, some private student loan programs and HEAL loans require us to obtain a completed deferment form.For most other deferments, if you're still eligible, you will need to reapply or provide additional information in order to extend your deferment. For more information, go to Deferment Eligibility.[Top] My FFELP loans are in deferment. Why aren't my private student loans deferred? Different loan programs have different deferment options and eligibility requirements, which means that you may be eligible for a deferment in one program, but not in another. Please refer to the Apply for Deferment option on the Change Payment menu for more information..[Top] What consequences are there for placing my account in forbearance? During the forbearance period, interest continues to accrue on the principal balance of the loan. Unless you pay the interest as it accrues, it can be capitalized, which means it is added to the principal balance of your loan. This will increase the total amount you'll pay over the life of the loan.[Top] What does it mean that I have reached the maximum time period(s) allowed to postpone payments on my federal loan(s)? Federal regulations provide only a certain amount of time to postpone payments on a given deferment. See the Deferment Eligibility for the maximum postponement time periods allowed for your loan type.[Top] What if my situation changes and I am no longer eligible for the deferment? Does it automatically end or do I need to contact you? If you are no longer eligible for deferment, your loan will either go into repayment or you will have a six-month grace period. After the grace period, you will receive monthly bills. Refer to your Deferment Eligibility requirements for more information or contact us for assistance. [Top] What is the difference between a deferment and a forbearance? A deferment is an entitlement that allows you to postpone payments for a period of time. For eligible federal loans, you are not responsible for interest that accrues during the deferment.A HYPERLINK "javascript:Submit('menu_postponePayment')" forbearance allows you to temporarily postpone or reduce your payments. It’s offered to assist you in times of need. A HYPERLINK "javascript:Submit('menu_postponePayment')" forbearance, on the other hand, is a temporary cessation or reduction of payments, offered at your lender's discretion. Intended to assist you in temporary times of need, Yyou are responsible for the interest that accrues during this time. Note: If this accrued interest is not paid during the forbearance period, it will be capitalized (added to your principal balance). In addition, you may incur a fee.Should you be eligible for both, Sallie Mae generally recommends deferment over forbearance, because of its advantages. For more information, please visit Postpone Payments.[Top] What is the eligibility criteria for each deferment offered? Each deferment has different eligibility requirements. For more information, please visit Deferment Eligibility.[Top] What is the maximum time that I'm eligible for a deferment or forbearance? Each type of deferment or forbearance has its own maximum time limit. Simply check out our Forms Center to learn the maximum for your deferment.[Top] What is the status of my request for a deferment or forbearance? To find out the status of your loan(s) simply visit your Loan Summary page. If your loan is not in your requested status, we may not have received or processed your form yet. This typically takes five to seven business days.[Top] What type of deferment best suits my situation? While you're welcome to read about the available deferments on our Deferment Eligibility page, we'd be happy to walk you through your options over the phone. Please call us at 888-2-SALLIE (888-272-5543) so we may assist you.[Top] While my loans are in deferment, why is interest paid on some of my loans but not paid on others? This situation can occur when you have a mix of different loans or when your full time student status changes. Interest is charged on unsubsidized loans but not charged on subsidized loans while you're enrolled at least half-time or, during your grace period., and during deferment periods. However, interest is charged on unsubsidized loans during all periods.[Top] Why am I no longer eligible for a deferment? There are many reasons why eligibility may be lost for a given deferment. Go to Deferment Eligibility to see if you still meet all the requirements for your deferment.[Top] Why are some of my loans eligible for certain deferments and others are not? Deferment eligibility requirements vary by loan type, disbursement date, and loan status. For more information please visit Deferment Eligibility.[Top] Why are some of my loans eligible for forbearance or deferment and others are not? Generally, federal regulations determine which loan receives which type of postponement. Please refer to the Deferment Eligibility or Forbearance Eligibility for more information.[Top] Why can't I apply for a forbearance online for all of my loans? If your loan(s) is eligible for forbearance, we've made those forms available online. However, certain forbearances still require printed forms and handwritten information. Those are forms that unfortunately cannot be filled out and submitted online. Download the additional forms that will need to be printed, signed and mailed.Also, it's important to Nnote: that not all of your loans are going to be eligible for the same forbearances at the same time.[Top] Why did my deferment end? Your deferment may have ended for any one of the following reasons:You've reached the HYPERLINK "javascript:Submit('global_deferment_eligibility')" maximum time limit for your deferment Your HYPERLINK "javascript:NamedAnchor('menu_glossary;Grace')" grace period has ended (if applicable) We haven't received the HYPERLINK "javascript:Submit('menu_customerService')" documentation necessary to continue your deferment. You may have received a letter from us as your deferment expiration date drew near. That letter should help provide an explanation on what may be required in order to continue your deferment.[Top] Why does it take longer to pay off my loan if I go into forbearance? It's important to note that periods of postponement, such as deferment or forbearance, don't count towards your repayment term. Each postponed payment extends the repayment term of the loan. For example, if your repayment term is 10 years, but you postpone payments for two years, you'll still be making payments for 10 years, though it will take 12 years to do it.As you may recall from your forbearance application, Iit's important to note that all interest that accrues during the forbearance period is your responsibility. Unless the interest is paid as it accrues, it will be capitalized (added to your principal balance). This capitalization will ultimately increase the amount you'll pay over the life of the loan.[Top] Why must I pay a forbearance fee for some of my loans, but not for others? The type of loan program and your lender determine if a forbearance fee is assessed.[Top] Will my payment increase after my forbearance has ended? Your payment may increase based on the interest that accrued while you were postponing your payments. This is why we encourage you to pay any or all of the interest as it accrues during the forbearance period.Any unpaid interest will capitalize (added to your loan's principal balance) at the end of the forbearance period. This may increase your monthly payment to allow you to repay your loans in the allotted timeframe.[Top] General Loan Information Am I eligible for any of your incentive programs? Please review the Loan/Borrower Benefits page to determine if you are eligible.[Top] Are my federal or direct loans eligible for Teacher Loan Forgiveness? Some federal loans may be eligible for Teacher Loan Forgiveness. For more information visit Teacher Loan Forgiveness.[Top] Are my private student loans eligible for Teacher Loan Forgiveness? No. While some federal loans are eligible for Teacher Loan Forgiveness, private student loans are not eligible. Are you looking to see if there's another HYPERLINK "javascript:SubmitMYL('/repayment/wizard/landingPage')" payment option available?[Top] Can a cosigner be released or removed from a loan? Yes. Depending on your private student loan program, you may be eligible to have your loan(s) reviewed to release your cosigner(s) from the loan obligation.[Top] Can an endorser be released from a loan? Yes. A FFELP or Federal Direct PLUS loan may be forgiven due to death or permanent disability of the borrower or student.[Top] Can I use my current Sallie Mae online account ID and password to create the required new account for the Department of Education Loan Services? Yes. You only need one online account ID and password to manage your loans. For your convenience, we created a single portal so you can access all of your loans.[Top] How can I tell who owns my student loan? Simply visit You will find this information on your Loan Summary to access your loansxxxxxxxx.You may also have received notification that your student loan(s) has been sold to the Department of Education. If you didn't receive a letter, you can check your Loan Summary to determine if one or more of your loans have been sold. If they have, your Loan Summary will contain this notification: One or more of your loans have been sold, please click HYPERLINK "javascript:SubmitMYL('/loanSummary')" here for details.[Top] How can my cosigner add their information to my application? Your cosigner should have received an email invitation with a Web address and confirmation number. If he/she simply follows that link, the application should be available.[Top] How do I add or update my contact information (mailing address, phone number, and email address)? You can update your contact information on your It's easy, simply visit the My Account page. [Top] How do I change my password? To change your password, go to My Account and click Change Password.[Top] How do I contact customer service? Please Simply visit Customer Support.[Top] How do I correct my date of birth? You will need to provide one of the following documents:Ccurrent driver's license Oofficial birth certificate Uunexpired government-issued ID, which contains your date of birth (i.e., a U.S. military ID, state ID, or passport). You can scan and upload your documentation quickly and securely online, or photocopy and HYPERLINK "javascript:Submit('menu_customerService')" mail it to us at the following address:.[Top] How do I get extra money for living expenses and books? First, you may want to talk to your Financial Aid Office. Then, after you've explored scholarships, grants and your federal loan options, Sallie Mae is pleased to offer private student loans to help bridge any funding gap. Learn more about Private Student Loans.[Top] How do I invite someone to apply as my cosigner? Visit our Activity Center to send an invitation to a cosigner to join the loan. Click Show Details and then Invite Cosigner. An invitation will be sent to the cosigner.[Top] How do I order my credit report? Online:By phone:877-322-8228By mail:Send written requests to:Annual Credit Report Request ServiceP.O. Box 105281Atlanta, GA 30348-5281[Top] How long does it take the consumer reporting agencies to load the monthly information reported by Sallie Mae? Normal processing time is between four to six weeks.[Top] How often do you report loan information to consumer reporting agencies? Sallie Mae provides monthly account updates to all four national credit reporting agencies: .Equifax, Experian, TransUnion, and Innovis. The updates include all account activity that occurred from the day after the last reporting through the current reporting date.[Top] How will my loans appear on my credit report? Sallie Mae reports most loans owned or serviced by a Sallie Mae company as "Sallie Mae." Loans serviced by Sallie Mae on behalf of the U.S. Department of Education are reported as "SM Dpt of ED Ln Serv."[Top] I am applying for a mortgage and need an account summary letter. How can I request a letter to be sent to the company? You can download an account authorization to release information letter online by visiting our convenient Printable Statements and Documents.[Top] I applied for forbearance or deferment and it was processed on my account. Why does my credit report still show delinquencies? A forbearance or deferment may have been processed on your loan(s) for a specific period of time to bring your account current; and it may take up to four to six weeks for this to be reflected on your credit report. However, if there were delinquencies reported during the time period prior to the forbearance or deferment request being received, the delinquencies are valid and will not be removed.[Top] I have a Smart Option Student Loan. Am I required to make monthly payments while I am in school? Some Smart Option loans require monthly payments while you're in school. Please refer to your Promissory Note for more details.[Top] I have made my monthly payments on time. Why does my loan appear as delinquent on my credit report? Please verify your records to ensure that all payments have been posted to your account. For your convenience, you may view your previous payment(s) on the Account Transaction History. If you see a discrepancy please or HYPERLINK "javascript:Submit('menu_customerService')" contact us for further assistance. [Top] I have rehabilitated my defaulted loan. Why does my credit report still reflect negative information from Sallie Mae? A rehabilitation agreement may entitle you to have a derogatory mark made by the guarantor, or other holder, removed. Rehabilitation does not remove accurate information reported by the prior lender/servicer.[Top] I noticed that some of my federal loan numbers have changed, how does this impact the way that I pay my loans? You may have noticed a change to some of your federal loan numbers if you've paid off one or more federal loan within a billing group. This loan number change will not have any impact on loans you pay online or have enrolled in automatic debit.[Top] Is my FFELP or Federal Direct loan eligible for discharge due to disability? Here are the eligibility requirements and applications for disability discharge.[Top] My account is paid in full. Why is my account status still in repayment? Your account status will change to "paid-in-full" approximately 30 days after the date of your final payment.[Top] My loans are being or have been discharged due to total and permanent disability. How long does it take and how will this be reflected on my consumer report? Loans that have been approved for provisional discharge due to total and permanent disability are transferred to the guarantor and the Conditional Discharge Unit of the U.S. Department of Education pending their approval for final discharge.After the transfer to these two institutions, the loans are then reported to the consumer reporting agencies with a transferred status as of the reporting date. No further reports are sent to the consumer reporting agencies by Sallie Mae after that date.[Top] My name is incorrect or has recently changed. How can I correct my account? Click here to correct the name on your account.From the HYPERLINK "javascript:Submit('menu_personalProfile')" My Account page, simply click on "How do I change my name?" for quick and easy instructions.[Top] My parents are paying my loan(s). Can I put my account in their names? No. You are contractually responsible for making payments. While payments may be made by other individuals, the legal responsibility for making payments remains with the borrower and cosigner.[Top] What account number should I use on my correspondence, check or money order (and forms)? We encourage you to use your 10-digit account number, but you may use your Social Security number when contacting us about your account.[Top] What happens if I file or have filed for bankruptcy? How does this affect the reporting of my student loan(s) on my consumer report? Loans included in the bankruptcy will appear in a bankrupt state on your consumer report.[Top] What is a repayment disclosure statement? A Student Loan Repayment and Disclosure Statement provides detailed repayment information regarding your loan, including the total amount borrowed, your repayment terms, and important information regarding rates and fees.[Top] What is my account number? Your 10-digit account number can be found at the top of any page after you login.[Top] What is my loan balance? Your loan balance is shown on the Loan Summary page. The balance includes accrued interest from the date of your last payment along with any fees, if applicable. Are you looking to pay your account in full? If you're not paying your account off online, please use the HYPERLINK "javascript:NamedAnchor('menu_glossary;10Day_Payoff_Amt')" 10-Day Payoff Amount to calculate the amount you'll need to pay. This will ensure that your final payment satisfies all principal plus any interest that accrues until we receive your payment.[Top] What is my separation date? Unless you return to school at least half time before your grace period expires, your separation date is the date you graduate or drop below half-time enrollment.Most loans have a six-month grace period; please refer to your Promissory Note for more information.[Top] What is your payment address? Did you know you can make your payment HYPERLINK "javascript:Submit('menu_EBPP_Paynow')" online? Or, for our payment address, simply visit HYPERLINK "javascript:Submit('menu_customerService')" Customer Support. We have very specific mailing addresses for different types of loan payments. See a complete list of mailing addresses on our contact us page. For your convenience we have provided a way for you to pay online.[Top] What loan forgiveness or discharge programs are available? How do I apply? To review a complete listing of available FFELP and Federal Direct loan forgiveness or discharge programs and to obtain specific information and downloadable applications, visit the Department of Education.To view the eligibility requirements for various loan forgiveness programs, please visit the loan forgiveness information page.[Top] When are delinquencies reported to the consumer reporting agencies? Although a loan is considered delinquent a day after a payment is missed, below is the criteria that Sallie Mae uses to begin reporting delinquencies for specific loan types: HYPERLINK "javascript:NamedAnchor('menu_glossary;FFELP')" FFELP loans, including Consolidation, PLUS, Stafford loans and Federal Direct, are reported as delinquent beginning at 90 days past due. Private student loans are reported as delinquent beginning at 45 days past due. HEAL loans are reported as delinquent beginning at 60 days past due. [Top] When will my loan be disbursed? Can I change the date? Once we receive certification from your school, we'll send you a final disclosure. You'll have a few days to review the final disclosure information. During this review period, you have the right to cancel the loan. After the review period, we forward the funds directly to your school on their requested date. If you'd like this date changed, you'll need to work with your school.[Top] Which consumer reporting agencies do you report my information to? Sallie Mae provides student loan repayment information to four national consumer reporting agencies: Equifax, Experian, TransUnion, and Innovis.[Top] Why are my loans showing as multiple tradelines on my credit report? This may result from one of the following two scenarios:1. Multiple loansSallie Mae reports information to the national consumer reporting agencies at the loan level. If you have more than one loan serviced by Sallie Mae, you will see each loan listed as a separate tradeline.2. Multiple Agency ReportA multiple agency report displays all data transmitted to the four consumer reporting agencies. If you're viewing a multiple agency report, your loans may be listed multiple times. The consumer reporting agency or creditor that supplied you with the consumer report should be able to identify if the loan is listed multiple times based on the date opened and high credit.If you believe the multiple reporting is worthy of dispute, please contact the consumer reporting agency.[Top] Why are my loans still appearing on my consumer report if I have paid the loan in full, consolidated the loan, or the loan was sold/transferred to another lender/servicer/guarantor? Once a loan(s) is paid, consolidated, sold, or transferred, Sallie Mae reports the loan to the consumer reporting agency as paid-in-full with the next scheduled monthly reporting. The loan(s) is no longer reported on a monthly basis after that reporting. Since consumer reporting agencies can take up to four to six weeks to update their records, you may want to contact them during this time to verify that your credit status has been updated. The loan(s) will remain on your consumer report with a paid-in-full status for a time period determined by the individual consumer reporting agencies.[Top] Why can't I see my paid off federal loan(s) anymore? In a recent adjustment to your account, any federal loan(s) you previously paid off two or more years ago have been archived. Congratulations on paying off your federal loan(s)![Top] Why can't I view the online correspondence I receive? All correspondence and forms on our site are provided in portable document format (PDF). You need Adobe? Reader? to view, print, or save the file. While our correspondence is viewable with Adobe 5.0, for optimal viewing, we recommend Adobe 6.0 or higher. A free copy of Adobe Reader is available for download at .[Top] Why does the loan appear as a tradeline on my credit report when I am just the cosigner/endorser/comaker/joint borrower? Cosigners and joint customers listed on a loan's Promissory Note are equally responsible for the repayment of the loan. Therefore, Sallie Mae reports monthly for all individuals obligated under the loan.[Top] Why was my loan sold to Sallie Mae? Loan sales are a fairly common practice in today's federal student loan market. The good news is that even though one or more of your loans may have been sold, Sallie Mae will be the HYPERLINK "javascript:NamedAnchor('menu_glossary;Servicer')" servicer of at least one of those loans (and possibly all of them).We look forward to servicing your loan. Sallie Mae will answer your calls, send periodic correspondence, and assist you with repayment options and processing your monthly payments.[Top] Interest Specific Questions About The Interest Rate On My LoanDoes Sallie Mae offer private student loans with a fixed interest rate? Yes. We currently offer fixed interest rates on our private student loans at degree-granting institutions. Please visit to learn more about this option.[Top] How do I calculate my monthly interest accrual? If you already have a loan with Sallie Mae: click here to find your monthly interest accrual. If you don’t already have a loan with Sallie Mae you can learn this by using Simply use our online Calculator. [Top] How does my interest accrue if I am late on a payment? Interest accrues at the same rate whether you are current or delinquent; however, if you lose a loan/borrower benefit because of late payments, your interest rate might increase.[Top] How does my interest accrue? Interest begins to accrue on the day of disbursement and continues to accrue on the unpaid principal balance until the loan is paid in full. Refer to the loan's Promissory Note for information regarding interest accrual.Or, you're welcome to use our online Calculator.[Top] How is the interest rate on my private student loan(s) determined? The interest rate on a private loan is the sum of the loan's Index and its margin. Private student loan programs use various indices to calculate the interest rate, such as Prime Rate or LIBOR. Please refer to the Promissory Note for the specific Index related to the loan in question. The margin on your private student loan(s) is determined by your creditworthiness, the creditworthiness of your cosigner, if applicable, and other factors.For more information on how interest rates on private student loans are determined, visit .[Top] How will I know how much interest accrues on my loan if I am not in repayment? Simply visit the Loan Summary page and select any loan not in replayment for more information. Depending on your loan program, during your in-school and separation/grace periods, if applicable, you are provided interest statements.[Top] Is my interest rate fixed or variable? To determine whether your interest rate is fixed or variable, select your loan from the Loan Summary page.[Top] Is the interest on my loan tax-deductible? Interest paid towards your student loans may be tax-deductible. For more details, consult with your financial advisor. Or, visit and look for information about student loan interest deduction.[Top] What happens if I am late on a payment? If you're late in making a payment, you may be assessed a late fee, your payment delinquency may be reported to consumer reporting agencies, and subsequent loan disbursements may be delayed or canceled. You may also lose eligibility for loan/borrower benefits, depending on the terms of your loan/borrower benefit program. If you're having difficulty making payments please contact us for assistance. [Top] What if I send in a payment before the designated due date? When we receive a payment, we usually apply it first to late fees (if any), followed by unpaid accrued interest, and then to the loan principal balance. Note:(tThe order of the application may vary depending on the requirements of your Promissory Note.) Interest on your loan(s) accrues daily, so the total amount of interest you'll pay during repayment can vary depending on when your payments are received. It's to your advantage to send your payments on time, or early, to avoid paying additional interest and late fees.[Top] What is Annual Percentage Rate (APR)? Set at the time you take out your loan, the Annual Percentage Rate (APR) represents the annual cost of borrowing money, including all interest, fees, premiums, etc., expressed as an annualized percentage rate based on the expected term of your loan.[Top] What is capitalization? Capitalization is the addition of unpaid accrued interest to the principal balance of a loan.[Top] What is the impact of capitalization? When you have unpaid interest it is added to the balance of the loan. This is called capitalization. The principal balance of a loan increases when unpaid interest is capitalized. Interest then begins to accrue on the new, higher principal balance. As a result, more interest may accrue over the life of the loan, the monthly payment amount may be higher and more payments may be required.[Top] Why did my interest rate change? Loans with variable interest rates can change every July 1 (federal loans), or as often as every month (private loans).A variable interest rate can also change due to earning or losing loan/borrower benefits such as those offered for enrolling in automatic debit. For more on these benefits, visit Loan/Borrower Benefits.If your interest rate was reduced as a result of the Servicemembers Civil Relief Act, the term of the active military service (as described in the copy of the military orders) may have ended. Or, we may not have received a copy of any additional or subsequent orders extending the term of the active military service.For additional information regarding Servicemembers Civil Relief Act interest rate eligibility, please refer to Servicemembers Civil Relief Act Information.[Top] Why is the Annual Percentage Rate (APR) different from the interest rate on my loan(s)? It's important to note that the interest rate and APR are not the same thing. For example, by law, the calculation of an APR includes any prepaid finance charge such as a Supplemental Fee at Disbursement assessed on a loan. So the APR could be higher or lower than the actual interest accrual rate.[Top] Repayment Options Are my private student loans eligible for extended repayment? Certain private student loan programs may be eligible for extended repayment. For additional information, visit Change Your Payment.[Top] Can I end my repayment plan early? Yes. You may contact us at any time to end your loan's current repayment plan. Unless you request to enter a reduced payment plan, your loan(s) will be placed back into a standard repayment plan for the remaining repayment period once your current repayment plan has ended. [Top] Can I switch my loan's repayment plan? You may be able to switch the repayment plan on your loan. Refer to Change Payment for more information.[Top] Does changing my repayment plan negatively affect my credit report? No, as long as your scheduled monthly payments are made on time.[Top] How can I lower my payments or switch my repayment plan? Please visit the Change Payment menu for information about lowering your payments.[Top] How much will my payments be if I choose a reduced payment plan? To calculate what your estimated monthly payment amount could be with a reduced payment plan, visit the Change Payment menu.[Top] I made my payment online. Why hasn't it posted yet? Payments submitted online can take up to four business days (not including weekends or holidays) to post to your student loan account. [Top] I'm married and applying for joint Income-Based Repayment. How does my spouse grant Sallie Mae access to the National Student Loan Data System (NSLDS) website? First, make sure you meet the qualifications to apply for a joint Income-Based Repayment:Married and filed a joint income tax return, or You have a Federal Consolidation Loan that you borrowed jointly with your spouse, and your spouse has a loan(s) that's eligible for Income-Based Repayment. If you do, you can have your spouse follow these steps to grant us access to the NSLDS:Log in to the NSLDS website at NSLDS., Go to the Financial Aid Review page and click on the Authorization button (the Borrower Access Authorization page will display), then Enter the six-digit Lender ID of 700191. Completing this process will allow your spouse to grant permission for a lender or lender servicer, with whom he/she does not currently have a relationship, to access his/her loan history. Once granted, the lender or lender servicer may view your spouse's information on the NSLDS during the 60-day period following the granting of permission.[Top] I'm still in school. Do I have to make payments before I graduate? The repayment option that applies to your loan determines what payments, if any, are required while in school and for the six month separation period. If your loan was eligible for deferred payments, you would have been given that option during the application process. If you're asking about the status of your in-school deferment, go to HYPERLINK "javascript:Submit('global_deferment_eligibility')" Deferment Eligibility for more information. If you're having difficulty making payments while in school, future disbursements may be delayed or canceled and your credit history may be negatively affected. Please contact us to discuss your situation.If you're asking about the status of your in-school deferment, go to HYPERLINK "javascript:Submit('global_deferment_eligibility')" Deferment Eligibility for more information.[Top] Is there a fee for changing my loan's repayment plan? There is no fee to change the repayment plan on federal loans. A fee may be assessed to change the repayment plan on certain private student loans.[Top] Is there a limit to the number of times I can switch repayment plans? No. You can switch your repayment plan as long as you have a sufficient repayment term remaining on your loan(s) and all eligibility requirements continue to be met.[Top] When can I request a change to my loan's repayment plan? You may request a change to your loan's repayment plan 30-45 days before entering repayment as well as during the repayment period. Refer to the Change Payment menu for eligibility requirements.[Top] Special Direct Consolidation Loans How do I apply for a Special Direct Consolidation Loans? Unfortunately, the opportunity to apply for the Special Direct Consolidation Loan ended on June 30, 2012.[Top] I applied for a Special Direct Consolidation Loan. When will it be processed? Please be advised that the consolidation process could take four to six weeks. When it's complete, you'll be able to access the loan online through .[Top] My Special Direct Consolidation Loan application was processed, why is there still a balance on my Sallie Mae-serviced loan(s)? If your Sallie Mae-serviced loan(s) was included in your Special Direct Consolidation Loan, and it's still showing a balance, it may be due to a delay in the posting time for the payoff to the loan(s). Please allow one to three days for the payment to be posted to the loan(s), and continue to check the status of your account online.[Top] Upromise Do I open a Upromise account in my name or my child's name? Open your Upromise account in your name and then add the children you're saving for in the Profile section of your Upromise account as beneficiaries. You can also add yourself as a beneficiary if you are planning to link your Sallie Mae Loan account.[Top] How are contributions deposited into my Upromise account? We've created secure connections with every contributing company, so contributions can be automatically deposited from them into your Upromise account.Your contributions are tracked when you:Register your credit cards and loyalty program cards Register your billing information for services and major purchases Shop through links on the Upromise website at online contributing companies You can view the contributions you receive by logging in to your account 24 hours a day, seven days a week.[Top] How do I earn college savings when I shop with participating online retailers? Follow these steps and you will receive your contribution automatically:Click on the Online Shopping tab on the Upromise website. Find the store you'd like to browse and click the link on the Upromise website. If you aren't already logged on, you will be prompted to do so at that time. If you have your pop-up blocker disabled, you will then see a message from Upromise reminding you that you are leaving the promise site and any additional terms and conditions. If directed by the Upromise message to make your purchase with a registered credit card, you must do that in order to receive a contribution. Complete the transaction as you normally would, (for In-Store and Catalog Retailers, make sure you pay with a registered credit or debit card). Be sure to stay on the Upromise website or we that you have not clicked off that site to any other company site. If you do, Upromise will not be able to track your purchases and you will not receive a contribution. When you follow these steps, Yyour contribution will be processed and posted within approximately 10-45 business days after you've made your purchase.[Top] How do I link my eligible Sallie Mae serviced loan? You canTo link your eligible Sallie Mae serviced loan by:Login to your Upromise account Go to the HYPERLINK "" \t "_blank" \o "My Account" My Account section Click on the Student Loans link located in the left menu Enter your SSN, date of birth, and last name. [Top] How does Upromise help my family save for college? Join Upromise and every time you make an eligible purchase with a Upromise partner, a portion of your purchase price will be deposited to your Upromise account. In general, you can earn with Upromise by shopping online through the Upromise website or when using a registered credit card or grocery card at participating in-store locations. See How it Works page for details. Upromise offers several ways for you to redeem your earnings, by transferring them into an eligible 529 plan, making a payment on your student loan, a High-Yield Savings Account or requesting a check. To help you save even more, you can invite family members and friends to also join Upromise and contribute into your account.[Top] I forgot my username and password. What should I do? If you forgot both your username and password, first tell us your registered email address and we will email your username to your registered email address. Then just select the link in the email or return to Upromise to request a temporary password.:Select HYPERLINK "" \t "_blank" \o "I Forgot My Username and Password" I Forgot My Username and Password. Enter your registered email address as requested. You will receive an email with your username within a few minutes. Once you receive this message, return to the Upromise website. Select HYPERLINK "" \t "_blank" \o "I Forgot My Password" I Forgot My Password. Enter your username and registered email address as requested. Answer the security question you selected when you joined Upromise. If more than five incorrect submissions are made you will be locked out of the account until you call us at XXXXXXXXXX. If you answer your security question correctly, you will receive an email with a temporary password within a few minutes. Once you receive this message, return to the Upromise website and log in. After you log in with this temporary password, you will be prompted to create a new password. [Top] What is the Upromise quarterly transfer for Sallie Mae serviced loans? Upromise quarterly transfer is a free benefit that lets Upromise members automatically transfer their earnings from their Upromise account directly to their linked Sallie Mae serviced loans. Transfers occur on a quarterly basis.What is the minimum amount that must be in my account before it is applied to my loan?There must be a minimum of $10 in your Upromise account before it will be transferred to your Sallie Mae student loan account. Transfers occur on a quarterly basis.[Top] When will I receive my contributions? For many contributing companies your savings will post to your account in about 10-45 days. However, for some of our contributing companies it may take longer for your savings to show up in your account. Please view our Contribution Timetable to find out when your contributions should post. We are continually working with our contributing companies to ensure the most rapid reporting and payment schedules possible.[Top] Which companies participate in the Upromise service? Upromise participating companies include a variety of services, stores, restaurants and more. For example:Thousands of grocery and drugstores coast to coast 800+ online retailers 8,000+ restaurants nationwide Upromise credit cards Gasoline Toys, books, music, electronics, home goods, fast food and clothing Many more You can always learn about new contributing companies by checking out the Stores & Services, Grocery and Shop Online sections of the Upromise site.[Top] Who can be a future college student? Your future college student, the person for whom you are saving, can be any United States resident who wants a higher education. That includes your child, the child of a family member or friend, your spouse, a sibling, and, depending on the particular savings plan you choose, yourself. In other words, a future college student can generally be anyone whose future higher education you want to support. You can also save for multiple students at the same time.[Top] Who do I contact with a question that's not found here in the FAQ's? For questions relating to Upromise, please contact Upromise Customer Care at CustomerCare@.For questions relating to your Sallie Mae student loan account, please contact Sallie Mae via email or call us toll free at 888-2-SALLIE (888-272-5543) Monday - Thursday 8 a.m. to 9 p.m., and Friday 8 a.m. to 8 p.m., ET.[Top] Who is eligible for the quarterly transfer? You must satisfy three (3) eligibility criteria in order to establish your eligibility for the Sallie Mae - Upromise Program:Sallie Mae must be the servicer of your student loans. Please contact Sallie Mae at 1-888-2SALLIE (888-272-5543) if you are uncertain as to whether Sallie Mae services your student loans. Your lender must be a participant in this Program. Please refer to the HYPERLINK "" \t "_blank" \o "Lender List" lender list in determining if your lender is a participant. Your student loans must be in an "active" status with Sallie Mae. This means that the benefits associated with this Program cannot be applied retroactively to student loans that have already been paid in full or transferred to another servicer. You must satisfy all three of the above-listed criteria in order to be eligible for this Program. If you have student loans and you believe that you do not satisfy the above criteria, please contact Sallie Mae at 1-888-2SALLIE (888-272-5543) and a Sallie Mae representative can assist you in reviewing your student loan options.[Top] ................
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