Federal Stafford Loan Terms and Conditions
*Terms and conditions apply. Sallie Mae Education Trust will pay the 1.5% origination fee on the borrower's behalf on Stafford Loans for academic year 2007-2008. The automatic-debit benefit is available during active repayment for as long as the borrower's monthly payment is successfully deducted from his/her bank account. Accumulated rewards equal to 4% of the monthly payment amount accrue in the borrower's Upromise account after each of the first 12 monthly payments are received by the due dates as initially scheduled. These rewards will vest after the borrower makes the 12th scheduled payment to Sallie Mae and the loan is in a non-delinquent or non-default status. Accumulated rewards equal to 1% of the original principal loan amount (less cancellations, refunds and returns) accrue in the borrower's Upromise account following full disbursement and vest after the borrower makes the first 24 payments by the due dates as initially scheduled. In addition to making the specified number of payments by the due dates as initially scheduled, to earn accumulated rewards, the borrower must sign up on Manage Your LoansSM, prior entering repayment, to receive account information by e-mail; must complete an annual online credit education tutorial while in school; must certify completion of his/her program of study; and must link his/her Sallie Mae account to his/her Upromise account at www.salliemae.com/upromise. Borrower benefits are effective for loans owned and serviced by Sallie Mae and first disbursed July 1, 2007 through January 31, 2008. HOWEVER, PROPOSED CHANGES TO THE FEDERAL STUDENT LOAN PROGRAM COULD RESULT IN SALLIE MAE REDUCING BENEFIT OFFERINGS, INCLUDING ORIGINATION AND DEFAULT FEE PAYMENTS, FOR LOANS DISBURSED ON OR AFTER OCTOBER 1, 2007.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AT ANY TIME WITHOUT NOTICE.