It’s important to get as much information as possible when you’re looking for an online student loan company – whether you plan on going with federal student loans or private ones. The Sallie Mae website appears to have a great deal of information, organized into individual categories that are easy to find and read. The directions for applying for or learning about student loans are in plain sight, so even first timers wouldn’t find it difficult to navigate the website.
One of the most important features Sallie Mae has that some other sites don’t is a secure website. This is essential, because as you enter your information into the computer and send it for the application, your personal information is encrypted. This means that even if it did fall into the hands of a shady individual, it would be virtually impossible for them to read it, much less use it against you to damage your credit or steal your identity.
Another important feature Sallie Mae has is online calculators that allow you to determine how much you might expect to pay each month for your student loans. They also allow you to search for a local school that accepts the kind of funding you’re applying for. With the ability to view your account online, you can save a lot of time. Unfortunately, Sallie Mae is lacking several popular features, such as being accredited by the Better Business Bureau, offering tips and advice, and allowing you to search for scholarships.
Good help and support is very important when you’re trying to determine which online student loan company to go with. While Sallie Mae lacks the popular email option for getting in touch with a customer service representative, they do offer a phone number you can use. In addition, they have a comprehensive FAQ section on their site where you can often find the answers to your questions right away. This can save you time by allowing you to answer your own questions or concerns right away without contacting anyone from the company. Sallie Mae seems to be competitive in this area.
Undergraduate, graduate, loans for parents and federal loans are available through this company, but loan consolidation is not. Private loans are available through Sallie Mae as well, and the prices are dependent upon personal credit.
With Sallie Mae, you can make your monthly payments online, even setting them up so that the payment is automatically withdrawn. This prevents you from missing the payment and incurring late fees. It’s not indicated on the site whether you’re able to pay by phone but there are fees for paying over the web. This is for a 15 year loan, which is quite similar to other industry standards.
Sallie Mae seems to be lacking in a lot of different areas, but most noticeably the features. Most other online student loan companies are accredited by the Better Business Bureau, and offer many tools and features designed to help students. However, when it comes to all around service, features, help and support, and types of loans – Sallie Mae is quite competitive with other student loan companies.
