What sort of re re payment is put on a solitary loan that is present

• First, any Unpaid charges are paid.
• 2nd, any Unpaid Interest is compensated.
• Third, the staying repayment quantity is placed on the existing Principal.
• Until you make your education loan repayments through automated debit or instruct us otherwise, the overpayment quantity will certainly reduce the existing Amount Due in your next billing statement(s).

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What sort of re re payment is placed on a solitary loan that is overdue

• First, any Unpaid charges are paid.
• 2nd, any Unpaid Interest is compensated.
• Third, the staying repayment quantity is placed on the present Principal.
• Us otherwise, the overpayment amount will reduce the Current Amount Due on your next billing statement(s) unless you make your student loan payments through automatic debit or instruct.

View a repayment example

Keep in mind: In the event that re re payment does not fulfill the Current Amount Due and Past Due Amount, a belated cost may be evaluated, while the Total Loan price may increase. Relate to the leading associated with the payment statement when it comes to dates in order to prevent fees that are late. In the event that loan is delinquent, it might be reported towards the customer reporting agencies.

What sort of re payment is allocated and placed on grouped loans being present

In cases where a debtor has loans that are multiple we might immediately place them in that loan team. Each loan team has its own payment statement that shows most of the loans within that team. The debtor may request to possess loans ungrouped at any time throughout the life of the mortgage. At 800-472-5543 (800-4-SALLIE) if you prefer a separate billing statement for each loan, please call us. Loans for cosigners aren’t place in that loan group and cosigners get a different payment declaration for every cosigned loan.

• The re re payment is allocated in line with the Amount that is current Due each loan in that loan team—unless your education loan payment is mailed with an independent little bit of paper instructing us to complete otherwise.
• When a part associated with the re re payment is assigned to each loan, we put it on within the after manner:
  • – First, any fees that are uncompensated paid.
  • – 2nd, any Unpaid Interest is compensated.
  • – 3rd, the staying repayment quantity is placed on the existing Principal.
  • – us otherwise, the overpayment amount will reduce the Current Amount Due on your next billing statement(s) unless you make your student loan payments through automatic debit or instruct.

View a repayment example

What sort of re payment is allocated and put on grouped loans that are delinquent

In case your re payment is not as much as the Past Due Amount, loans during the earliest delinquency degree will likely be paid first. As soon as every one of the loans have reached the delinquency that is same, the residual re payment quantity is going to be prorated based on each loan’s staying Past Due Amount within that team delinquency degree. This leads to the delinquency degree being similar for every loan into the team. In the event that you make an overpayment, the rest of the repayment quantity should be prorated according to each loan’s Current Balance as of this date the repayment is received less the Past Due Amount and present Amount Due paid.

As soon as a percentage regarding the re re payment is assigned to each loan, we put it on within the manner that is following

• First, any fees that are uncompensated paid.
• 2nd, any Unpaid Interest is compensated.
• Third, the remaining repayment quantity is put on the present Principal.
• Us otherwise, the overpayment amount will reduce the Current Amount Due on your next billing statement(s) unless you make your student loan payments through automatic debit or instruct.

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View a repayment example

Remember: In the event that re payment does not fulfill the present Amount Due and Past Due Amount, a belated cost may be evaluated, and also the Total Loan expense may increase. Relate to the leading associated with the payment declaration for the times in order to avoid belated costs. In the event that loan is delinquent, it might be reported into the customer reporting agencies.

Demand payment that is special directions for numerous loans

It is possible to instruct us to allocate education loan re re payments differently, in the event that you pay by mail. Demonstrably compose your directions on a different sheet of paper, including any relevant loan that is 16-digit additionally the quantity you would like allotted to each loan. If we allocate a repayment to a particular loan or loans, payments are used in line with the regards to each loan’s Promissory Note, often very very very first to Unpaid charges, then to Unpaid Interest, then to active Principal. You might not designate a method that is different using payments. We can’t process directions written from the check or remittance slide. Please be aware, third-party bill-pay services don’t allow one to offer directions. If you should be a debtor utilizing a third-party bill-pay service and wish to allocate your re re payment differently, please phone customer support at 800-472-5543 (800-4-SALLIE) to own your loans ungrouped.

Associated topics

Pick the manner in which you desire to make education loan payments. Choose from auto debit, having to pay online, mobile application, by phone, mail, or third-party bill-pay services.

Find some recommendations from Sallie Mae ® on repaying your student education loans that will save cash as well as reduce your Total Loan price.

Make and handle your Sallie Mae education loan re payments anytime, anywhere, from your own Apple ® or Android ? phone.

When you’re necessary to make repayments for numerous loans, we possibly may cluster them together in a “loan group”, so that you receive one consolidated payment declaration and that can make one payment to pay for all of them. You might ask us to ungroup your loans by calling us at 800-472-5543 (800-4-SALLIE) but this may bring about numerous billing statements.

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