Law School from Sallie Mae Bank

Pros & Cons

Fixed Rates

Repayment Options

• Deferred repayment option: Make no payments while you’re in school and in grace (nine months after leaving school).
• Fixed repayment option: Pay $25 every month you’re in school and in grace, and you can save on your total loan cost when compared to our deferred repayment option.
• Interest repayment option: Pay your Law School Loan interest every month you're in school and in grace. Your interest rate will be 0.50 percentage points lower than with the deferred repayment option and 0.25 percentage points lower than with the fixed repayment option.

Requirements

• What you need to get approved (Qualifications)
  FICO® score 600 or higher.
• Residence

  Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend a participating school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident) and provide an unexpired government-issued photo ID to verify their identity.

• Requirements Description
  • Permanent address. Note: If you've lived at your permanent address less than one year, you'll need to provide your previous address
  • Social Security Numbers of the borrower, cosigner and student, if applicable
  • School information to include name, enrollment status, degree and course of study
  • Academic period of enrollment and year in school
  • Loan amount requested and other financial aid the student expects to receive
  • Your employment information (company name and gross income)
  • Financial information, including your bank accounts, and your monthly mortgage or rent payments
  • Name and contact information for two personal contacts (not required for cosigners)