Sallie Mae Student Loans: Information and Tips for Borrowers


If you took out student loans to fund your education, it is likely federal student loans were your first choice. However, federal loans are not always enough, even when used in combination with other forms of student aid such as grants and scholarships. To fill the gap, many students turn to private student loan lenders.

With decades of history in the industry, Sallie Mae is no newcomer to the student loan scene. Today, it is one of the most popular private student loan providers.

If you have Sallie Mae student loans, keep reading for information to help keep your repayment on track.

About Sallie Mae

SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation with nearly $13 billion in assets that, at present, provides consumer banking services.

Based in Newark, Delaware, Sallie Mae was founded in 1973 as a government entity that serviced federal education loans. It has since become a private company whose primary business is to originate, service, and collect private student loans.

What does Sallie Mae do as a student loan provider?

As a private student loan provider, Sallie Mae offers loans to students that can be used to complement other forms of financial aid, such as grants, scholarships, and federal student loans. Private student loans can be used to pay for any school-certified costs, from tuition and books to room and board.

Students accepting loans from Sallie Mae can borrow up to 100 percent of their school-certified costs, though the company reserves the right to approve a lesser amount. This is because Sallie Mae is committed to encouraging responsible borrowing.

Information regarding your preapproval, disbursement of funds, or pending loan status can all be found by logging into the activity center.

Sallie Mae provides numerous resources to help students plan for college, as well as figure out how to successfully repay their student loans. The company has three in-school repayment options and allows borrowers to select what will work best for their situation at the time of application.

Borrowers who have left school can receive incentives for enrolling in auto-pay as well as take advantage of repayment assistance options such as a Graduated Repayment Period (GRP). In fact, Sallie Mae’s Smart Option Student Loan is the only nationwide private student loan offering this feature.

Making student loan payments to Sallie Mae

If you have a Sallie Mae student loan, the most convenient method for making payments is through their online portal. Start by creating an account online and submitting your Social Security number or account number so you can retrieve your loan information. Then you’ll create a username and password so you can log in to make payments.

One of the easiest ways to save money is by setting up automatic payments, which qualifies you for a 0.25% interest rate reduction. Bonus: because payments are made automatically, you don’t have to worry about missing a payment.

Sallie Mae student loan repayment options

Sallie Mae offers many different types of student loans: undergraduate, medical residency and relocation, dental residency and relocation, bar study, K-12 family education, and graduate school.

Information about your specific loan’s grace period, repayment term, and other benefits can be accessed by logging into your online account.

There is never a penalty for paying your loan early. On the other hand, if you have trouble making payments for any reason, call 800-4-SALLIE (800-472-5543). Through the GRP feature, you can request to make 12 interest-only payments instead of full principal and interest payments after your six-month separation period, as long as payments have been kept current.

Additionally, signature, bar study, medical residency and relocation, and dental residency and relocation loans may be eligible for interest-only payments for two or four years, followed by principal and interest payments for the remainder of the repayment term.

Sallie Mae also offers the option to pay part of your loan while you are still in school. Borrowers can opt for $25 monthly payments or monthly payments that cover accruing interest, either of which can help reduce your overall loan costs. Of course, you can also pay any amount of your loan at any time without a penalty.

Finally, Sallie Mae’s Upromise cash back program may also help you lower your loan costs.

Sallie Mae student loans contact information

Business hours:

  • Monday – Thursday 8:00 AM to 9:00 PM ET
  • Friday 8:00 AM to 8:00 PM ET
  • Saturday 9:00 AM to 6:00 PM ET

Phone: 1-800-4-SALLIE

Fax: 1-855-756-0011

Mailing address for general correspondence:

Sallie Mae
P.O. Box 3319
Wilmington, DE 19804-4319


If you have a Sallie Mae student loan, you have many resources at your disposal to help you pay off debt. If you ever have trouble making payments, reach out to them to discuss your options.

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