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Federal Parent PLUS Loan - Terms and Conditions
- Borrower benefits are available for Parent PLUS Loans first disbursed July 1, 2006 through June 30, 2007 by Fifth Third and owned and serviced by Sallie Mae® throughout repayment.
- To qualify for the 0.25 percentage point interest rate reduction:
- The auto debit interest rate reduction borrower benefit is available only during active periods of repayment after Sallie Mae purchases the loan, which typically occurs approximately 90 days after full disbursement. The benefit remains available while the borrower remains enrolled in auto debit.
- Fifth Third Bank will pay the federal default fee on the borrower's behalf on Stafford Loans that are guaranteed by USA Funds 7/1/06-6/30/07 and are serviced by Sallie Mae.
- Sallie Mae reserves the right to modify, continue or discontinue borrower benefit programs at any time without notice.
Sallie Mae is a registered service mark and Manage Your Loans is a service mark of Sallie Mae, Inc. Sallie Mae, Inc. is a wholly-owned subsidiary of SLM Corporation. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America. Fifth Third and Fifth Third Bank are registered service marks of Fifth Third Bancorp. Member FDIC. © 2006 Sallie Mae, Inc. All rights reserved.
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