Salli Mae Help

Sandesh · May 5th, 2006, 19:33

Dear friends,
Could anyone please explain to me the interets only payemnt and deffered payment option in the form. I am currently trying to get a loan for skymates. Do you think the y will pay for the whole training if I just apply for myslef or do you think its better to put someone else as a co-signer too?

Thank you all for your help.

SharkFisher · May 5th, 2006, 21:19

I am providing this information that I received from DCA. Sallie Mae
1. Borrow upto $61,000
2. Career training loan
3. Repayment terms up to 15 years
4. Repayment begins 30 days after disbursement
5. Unsecured loan: Apply on-line

Now DCA costs way more than 61K I will guarentee you that. Even if you did get approved for the entire cost form another financial institution, (if you've been following threads regarding loans here), I strongly suggest not to borrow big loans or (go to big schools). Depends on your situation of course. For an average guy like me the local flying club seems the best deal.

Sprint100 · May 6th, 2006, 00:01

You will definitely need a co-signer. Sallie Mae should be able to tell you the payment schedule, for both interest-only and totally deferred, after you get approved and they have a solid APR to go off of.
They can also explain the difference. Before you get approved.

May 5th, 2006, 19:33	#1
Sandesh Junior Member Join Date: Dec 2004 Location: TEXAS Posts: 84	Salli Mae Help Dear friends, Could anyone please explain to me the interets only payemnt and deffered payment option in the form. I am currently trying to get a loan for skymates. Do you think the y will pay for the whole training if I just apply for myslef or do you think its better to put someone else as a co-signer too? Thank you all for your help.

May 6th, 2006, 00:01	#3
Sprint100 Old Skool Join Date: Jan 2003 Location: In my Cozy garage Posts: 6,272	Re: Salli Mae Help You will definitely need a co-signer. Sallie Mae should be able to tell you the payment schedule, for both interest-only and totally deferred, after you get approved and they have a solid APR to go off of. They can also explain the difference. Before you get approved. __________________ Excellence is not a single act, but a habit. "I have learned over the years that when one's mind is made up, that diminshes fear" - Rosa Parks

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May 5th, 2006, 21:19	#2
SharkFisher Junior Member Join Date: May 2005 Location: CH PA Posts: 238	I am providing this information that I received from DCA. Sallie Mae 1. Borrow upto $61,000 2. Career training loan 3. Repayment terms up to 15 years 4. Repayment begins 30 days after disbursement 5. Unsecured loan: Apply on-line Now DCA costs way more than 61K I will guarentee you that. Even if you did get approved for the entire cost form another financial institution, (if you've been following threads regarding loans here), I strongly suggest not to borrow big loans or (go to big schools). Depends on your situation of course. For an average guy like me the local flying club seems the best deal.