Sallie Mae now offers a faster, more streamlined method for borrowers to apply for student loan consolidation, a repayment alternative designed to provide lower monthly payments. Borrowers seeking this option can now complete and submit an application online through Sallie Mae's Web site by following the secure consolidation link. Once the form has been electronically submitted, borrowers may simply forward a signed hard-copy form to Sallie Mae to complete the processing of their application, ultimately shaving a week or more off the traditional paper application process. While consolidation is an option for those seeking monthly payment relief, borrowers should explore the impact of consolidation on interest subsidy, deferment and other benefits before they make the decision to consolidate. For more information, visit www.salliemae.com.
This article originally appeared in the 11/01/2001 issue of THE Journal.