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You must satisfy three (3) eligibility criteria in order to establish your eligibility for the Sallie Mae - Upromise Program:

1. Sallie Mae must be the servicer of your student loans. Please contact Sallie Mae at 1-888-2SALLIE (888-272-5543) if you are uncertain as to whether Sallie Mae services your student loans.
2. Your lender must be a participant in this Program. Please refer to the lender list in determining if your lender is a participant.
3. Your student loans must be in an "active" status with Sallie Mae. This means that the benefits associated with this Program cannot be applied retroactively to student loans that have already been paid in full or transferred to another servicer.

You must satisfy all three of the above-listed criteria in order to be eligible for this Program. If you have student loans and you believe that you do not satisfy the above criteria, please contact Sallie Mae at 1-888-2SALLIE (888-272-5543) and a Sallie Mae representative can assist you in reviewing your student loan options.

There are many types of student loans available to assist you with your education costs. Read the sections below to gain a better understanding of the different loan types that may be available to you.

Federal Stafford Loans
Stafford loans are long-term, low-interest loans made by private lending institutions (such as banks, savings and loan associations, or credit unions) to undergraduate and graduate students to help them cover the cost of higher education. You will need to repay any money you receive based on the terms of the loan. You will need to meet the following eligibility standards to qualify: To be eligible for a Federal Stafford loan you must:

• Complete the FAFSA for the appropriate academic year
• Be a U.S. citizen or eligible non-citizen
• Be accepted for enrollment in a participating institution of higher learning; or, if enrolled, be making satisfactory academic progress
• Be classified as at least a half-time student and working toward a degree or certificate
• Not be in default on an education loan or owe any education grant refunds
• Be registered with Selective Service, if required
• Have financial need in order to receive a Subsidized Stafford Loan

APPLY FOR A STAFFORD LOAN

Federal Graduate PLUS Loans
Graduate PLUS loans are available to graduate and professional students to borrow on their own behalf. Graduate students can get a Graduate PLUS Loan from a private lending institution (such as banks, savings and loan associations or credit unions). With a Graduate PLUS Loan, students may borrow up to the full cost of their education, less other financial aid received including Federal Stafford Loans. Graduate students should exhaust their eligibility for Federal Stafford Loans before pursuing a Graduate PLUS Loan.

To be eligible for a Graduate PLUS loan you, the graduate or professional student, must:

• Be a U.S. citizen or eligible non-citizen
• Be accepted for enrollment in a participating institution of higher learning; or, if enrolled, be making satisfactory academic progress
• Be classified as at least a half-time student and working toward a degree or certificate
• Not be in default on an education loan or owe any education grant refunds
• Be registered with Selective Service, if required
• Meet credit criteria

APPLY FOR A GRADUATE PLUS LOAN

Federal Parent PLUS Loans (Parent Loans)
If you are a dependent, undergraduate student and your parents want to borrow to help pay for your education, they may borrow up to the difference between your educational costs and other financial aid you are receiving. They can get a Federal Parent PLUS loan from a private lending institution (such as banks, savings and loan associations or credit unions). You and your parents will need to meet the following eligibility standards to qualify:

To be eligible for a PLUS loan you, the undergraduate student, must:

• Be a U.S. citizen or eligible non-citizen
• Be accepted for enrollment in a participating institution of higher learning; or, if enrolled, be making satisfactory academic progress
• Be classified as at least a half-time student and working toward a degree or certificate
• Not be in default on an education loan or owe any education grant refunds
• Be registered with Selective Service, if required

Your Parent must:

• Be your natural parent
• Be a U.S. citizen or eligible non-citizen
• Not be in default on an education loan or owe any education grant refunds
• Meet credit criteria

APPLY FOR A PARENT PLUS LOAN

Federal Consolidation Loans
Federal Consolidation Loans generally offer more flexible repayment options than your original student loan(s). You can reduce your monthly payments by up to 45%, lock in a fixed-interested rate - avoiding future increases in the rates on any existing variable-rate loans. Consolidation loans provide the convenience of a single monthly payment.

To be eligible for a Federal Consolidation loan you must meet the following criteria:

• If you are a student borrower, your student loans must be eligible for consolidation: They must be in grace, repayment, deferment, or forbearance
• You must be in the six-month, post-school grace period or in repayment
• You must certify that you do not have another application for a consolidation loan pending with another lender
• If you are a parent borrower, you may consolidate your loans at any time, regardless of your child's enrollment status.
• Loans must be fully disbursed to be eligible for consolidation

APPLY FOR A FEDERAL CONSOLIDATION LOAN

How can my family and friends help me pay for my Sallie Mae-serviced student loan?

Once you become a Upromise member, you can invite friends and family to join Upromise and ask them to contribute their Upromise savings towards your student loan by using the Upromise Family and Friends network.

How can I help a family member or friend pay for their Sallie Mae-serviced student loan?

Only the Sallie Mae account holder can link a Upromise account to their Sallie Mae-serviced loan. However, once you become a Upromise member, you can offer to join the Family & Friends network of a Upromise member that has a Sallie Mae student loan linked to their Upromise account. After joining their Family & Friends network, you can contribute your Upromise savings towards the student loan of your family member or friend.

What is the minimum amount that must be in my account before it is applied to my loan?

There must be a minimum of $25 in your Upromise account before it will be transferred to your Sallie Mae student loan account. Transfers occur on a quarterly basis.

Who do I contact with a question that is not found here in the FAQ's?

Please contact Upromise Customer Care with questions relating to Upromise at customercare@upromise.com. If you have account specific questions relating to your Sallie Mae student loan account, please access www.salliemae.com or call 1-888-2-SALLIE (888-272-5543) Monday through Thursday from 8:00 AM to 8:00 PM and Friday from 8:00 AM to 5:00 PM in your time zone.

How long will it take for my account to be linked to my Sallie Mae student loan account?

Typically, this process would take five to ten business days. However, that part of our site is currently under construction, and the link status will be reflected as "Being Linked" in My Account during the build-out period. Once up and running, your account will be verified and show as "Linked" in My Account. During this time, all of your qualified spending and subsequent savings will accrue and be viewable in My Account. In addition, the first quarterly automatic transfer of your savings is scheduled to take place in June '07 if you have accumulated at least $25. If you have questions regarding your Upromise account, please contact Upromise Customer Care at customercare@upromise.com.

How do I apply for a Sallie Mae student loan?

Please review the important information on this page, then pick one of the links above ("APPLY FOR A STAFFORD LOAN", "APPLY FOR A PARENT PLUS LOAN", "APPLY FOR A GRADUATE PLUS LOAN", or APPLY FOR A CONSOLIDATION LOAN) to begin the application process.

How can I determine if my student loan is serviced by Sallie Mae?

Locate a recent student loan statement or correspondence to verify your servicer, or contact your lender for more information on who services your loan. Or contact Sallie Mae at 1-888-2SALLIE (888-272-5543) for help in determining if your student loan is eligible.

Does my lender participate in the Sallie Mae-Upromise program?

Please visit this lender list to view a list of participating lenders.

Can someone sign up to both save for a future college student and contribute to a current Sallie Mae student loan being paid down?

Absolutely. Just have the Upromise member choose how to allocate their contributions.

If I have loans being serviced at Sallie Mae and somewhere else, how can I have them all transferred to Sallie Mae?

Consolidate with Sallie Mae. Please contact Sallie Mae at 1-866-675-7539 to discuss your student loan options.

I am about to take out a Sallie Mae student loan. Can I link my loan to my Upromise account right now?

You must wait until your loan is disbursed.

I already have an account established to save for the future education for my youngest child, but I would like to begin to have my contributions applied to my older child's student loan account. Is that permitted and how do I go about doing so?

Yes, this is permitted, as long as the contributions have not already been transferred to a 529 account. The older child would need to enroll as a Upromise member and then invite you to contribute towards his or her loans. You would then access your Upromise account and accept your child's invitation to direct a portion of your Upromise contributions into his/her Upromise account.

• Terms and conditions apply for each participating Upromise company's contributions. Contributing companies and Terms and Conditions are subject to change without notice.
• Upromise contributions transferred to your Sallie Mae student loan account are supplemental payments and do not take the place of your regular scheduled monthly payment. You must continue to make your monthly payments while utilizing this service.
• Sallie Mae will not be responsible for the application of your Upromise contributions to your student loans until such time as the contributions are transferred to Sallie Mae from Upromise.
• Your Upromise contributions will be applied to your Sallie Mae student loan account pursuant to the terms and conditions of your promissory note.
• Sallie Mae reserves the right to modify, continue or discontinue the Upromise Loan Link benefit at any time without notice including, but not limited to, the timing of the Upromise transfer to the Sallie Mae student loan account, the minimum transfer amount, and loans that are eligible for the transfer.