sallie mae

[manny]

Hey all,

I really need some help about sallie mae. The NJ office is not at all helpful about this. Do we have to have a cosigner? Do we make interest payments while in school or do we start paying after we are finished school. Also what is the interest rate. It says on the application its prime plus or minus a percentage that they calculate based on your school. Anyone know what ross's percentage is?

Thanks so much for all your help
Manny

[awdc]

You won't need a co-signer if you're credit is good.

You won't need to make interest payments while in school although you have the option of doing this. However, if you have to take out the unsubsidized Stafford loans, interest will begin to accrue while you are in school. With the subsidized Stafford loans, interest will not accrue until after you graduate.

Not sure what you're talking about regarding the U.S. prime +/- a percentage based on the school.

This might help you: http://www.rossmed.edu/WaysAndMeans.pdf. It has info regarding the variable interest rate of the alternative loans.

[Neuro3]

I was told by sallie mae you have to have a co-signer the first time you get a signature loan through them. After that you don't need one. I have excellent credit and I had to have a co-signer for last semester and when I applied for the private loan through them for next 3 semester they did not require one.

[manny]

Thanks guys. I really do appreciate it. I called up sallie mae and they told me that since I was a foreign student, I'd need a co-signer.

Manny