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Sallie Mae Offers Free Tips and Tools to Help College Grads Successfully Manage Student Loan Payments

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Company Offers Resources to Help Students Adopt Responsible
Personal Finance Habits

For millions of college students, the month of May marks graduation,
transition from classroom to career, and preparation for new
responsibilities, including paying back student loans. Sallie Mae — the
nation's saving, planning, and paying for college company — has a
variety of free tips, tools, and resources to help recent grads prepare
for that transition, successfully manage their payments, and reduce
costs.

"We're a partner in helping families save, plan, and pay for college –
and that partnership extends well beyond graduation," said Martha
Holler, senior vice president, Sallie Mae. "When it comes to paying back
student loans, starting off on the right foot is critical. Our free
tools and resources can provide that all-important roadmap to guide and
support recent grads as they prepare for those next steps and establish
responsible personal finance habits."

Sallie Mae's "Manage
your student loans
" is a one-stop source of straightforward,
comprehensive information. It features practical tools, including a
monthly budget worksheet and a loan payment estimator, as well as
easy-to-understand explanations of complex subjects, like how interest
accrues, how payments are allocated to principal and interest, and how
to build a strong credit history.

The company also offers the following tips to help newly-minted
graduates get prepared:

Get organized. Students who borrowed to pay for college are given
a six-month grace period after graduation when no payments are required.
This is the ideal time to get prepared. Start by understanding who you
owe — whether loans are federal or private — and how much you owe,
including interest rates and any accrued interest. Think about your
other expenses, too. Using Sallie Mae's budget
worksheet
can help you get organized.

Be responsible. Open any mail you receive from your lender or
student loan servicer and read it carefully. Update your contact
information when you leave school — including your e-mail address. If
you run into trouble, don't ignore it. Contact your lender or servicer,
or touch base with your cosigner if you have one.

Make payments automatic. Sign up for automatic payments, and
you'll never have to worry about missing a payment, you'll avoid late
fees, and you might qualify for a discount on your interest rate. Sallie
Mae customers may be eligible to receive a 0.25
percent interest rate reduction
when they pay on-time via
auto-debit. Paying on time also helps establish and build a favorable
credit history, and that can make a big difference when you apply for a
car loan, credit card, lease, mortgage, or even a job.

Consider paying a little extra. If you can, make more than
the minimum payment each month. You'll pay off your loan faster, and
you'll pay less interest. Sallie Mae's accrued
interest calculator
can estimate how much you might save.

Use Sallie Mae® Mobile App to make payments.
If you are a Sallie Mae customer, you now have the ability to make and
manage payments anytime, anywhere, including from an Apple Watch or by
using Siri, and the App is available for iPhone and Android.

To help with the transition to repayment, Sallie Mae also offers a Graduated
Repayment Period
(GRP), which allows graduates with eligible Sallie
Mae loans in good standing to make 12 months of interest-only payments
before they transition into making full principal and interest payments.
Sallie Mae is the first private student lender to offer a GRP option.

For more information about saving, planning, and paying for college,
visit SallieMae.com.

Sallie Mae (NASDAQ:SLM) is the nation's saving, planning, and
paying for college company. Whether college is a long way off or just
around the corner, Sallie Mae offers products that promote responsible
personal finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM
Corporation and its subsidiaries are not sponsored by or agencies of the
United States of America.

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