Sallie-Mae Loans?

So, I need a loan (around $26,000) so I can finish my undergrad degree. My school's international student program referred me to Sallie-Mae. Has anyone gotten a loan from them? Was it relatively easy? Do you need to be a USC or permanent resident? I have a USC uncle who is willing to co-sign for the loan, but I just wanted to make sure since on the website it doesn't mention anything about requiring citizenship or residency (for this particular loan, at least).

Just for reference sake, I'm looking at this loan, the Signature Student Loan.

Thanks!

my brother has both his loans with them, about 8,000$ each. you do need to be a permanent resident, he was already a usc at the time, so no problem for him, as far as co-signing goes, im not sure. they also let you put off loan payments for up to 2 yrs after you graduate but the interest will go up a bit. my bro hasn't had problems with it yet. and the monthly payments are reasonable.

^I was told only the co-signer needed to be a USC or resident...

Sigh, I really need this loan..lol. Thanks for replying though!

Anyone else have any experience with Sallie-Mae?

ok kool, that means i can get a loan as well lol

when i first heard of the name, back in HS, i thought Sallie-Mae was an old, fat, rich southern woman who gave out loans to random kids, lol.

Sallie Mae, is the underwriter for virtually all student loans, even those provided by banks, financial institutions and lending establishments. Its a quasi-governmental authority and it either writes or buys student loans from the private sector. It controls something like ~98% of the student loan market.

Because of its semi-governmental status, it requires loan applicants to be at least permanent residents or have a perm. resident/citizen co-signer. All loans written by Sallie Mae, issued to undocumented/international students require a legal cosigner. The applicant doesn't have to be in lawful status. Some loans (usually the best ones) are not available to undocumented/international students but most are.

As for loan terms, don't worry so much about getting bad rates. The interest rates are capped by law and even cosigners with bad credit can receive decent interest rates, they'll just be on the higher end of the spectrum.

Good luck.

^Ahhh, thank you so much! You've taken such a huge insecurity off my shoulders!

Thanks again! I hope this info can help out another DREAMie!

^I actually could use a loan and didn't know about these. I was looking through the website, though, under International Student private loans, and they ask for the SS# for both the borrower AND for the cosigner...

https://opennet.salliemae.com/private/

http://biz.yahoo.com/ap/080416/earns_sallie_mae.html

Hmmm...I wonder if the application will go through if you just put 000-00-0000 in place of an SSN.

Anyone want to try? It might help out some other DREAMies!