Sallie Mae Parent Loan Program
UMHS is happy to announce a new student loan program offering from our lender, Sallie Mae.
The Sallie Mae Parent LoanSM gives parents, and/or other family and non-family sponsors, a flexible way to borrow an education loan in the sponsor’s name only. The loan, which features competitive interest rates, no up-front fees, and a choice of repayment options, can cover 100% of school-approved costs. While this is still a credit based private education loan, the student bears no financial responsibly and the student does not need to meet the lender’s credit criteria.
This new loan program can be used in conjunction with, or replacement of, the Smart Option loan program. This is a great opportunity for students who do not qualify for the smart option loan due to credit history, but have good cosigners who are willing to assist them. However, remember, that no student can receive aid in excess of their cost of attendance, as outlined by school administration.