Sallie Mae Offers Future Doctors Competitive Financing to Start Their Residencies

This Week, Medical Students Learn Where They Will Be Spending
Their Residencies

NEWARK, Del.–(BUSINESS WIRE)–This week, the National Resident Matching Program will reveal where tens
of thousands of medical students will be placed for their residencies.
“Match Day” is a time for future doctors to celebrate, and to also start
planning, as residencies could mean costly relocations.

To help students manage these costs, Sallie Mae—the nation’s saving,
planning, and paying for college company—offers the Residency
and Relocation Loan
. Available to health profession students in
their final year of medical, dental, podiatry, or veterinary school, the Residency
and Relocation Loan
can be used to help pay for travel, moving,
board examinations, and other related expenses which may not be covered
by federal student loan programs.

Sallie Mae’s Residency
and Relocation Loan
has no origination or disbursement fees, no
prepayment penalties, and offers a variable interest rate, with starting
rates ranging from 3.46
percent to 9.85 percent APR
.

In addition, the Residency
and Relocation Loan
by Sallie Mae offers the following benefits:

  • Immediate access to funds: Funds are disbursed directly to
    students upon loan approval.
  • Payment flexibility: Students may defer
    payments
    while they are in school, as long as they are enrolled at
    least half time. Repayment begins three years after graduation, or
    nine months after the student leaves school or drops to less than
    half-time status.
  • A better rate with auto-pay
    and rewards:
    Customers can reduce their interest rate by 0.25
    percentage points by enrolling in the automatic electronic payment
    option. Customers can also join Upromise
    by Sallie Mae
    , a free service that applies rewards from eligible
    everyday purchases toward paying down an education loan.
  • Free credit score: Customers have access to their FICO®
    Credit Score
    on a quarterly basis, along with information about
    factors that affect credit scores and why monitoring credit scores is
    important. Sallie Mae is the only national private student lender to
    offer this benefit.

“Match Day is a day circled on every medical student’s calendar, and
it’s the next major step in the transition from student to doctor,” said
Kelly Christiano, senior vice president, Sallie Mae. “For many students,
the excitement of learning where they’ll be placed for residency can
also bring the stress of a major relocation. The good news is there are
responsible financing options like Sallie Mae’s Residency and Relocation
Loan that can ease the burden associated with the move.”

For more information or to apply online, visit www.SallieMae.com/medical,
or start the application process by calling Sallie Mae at 877-279-7172.
For more tips, tools, and resources that can help students and families
save, plan, and pay for college, visit SallieMae.com.

Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and
paying for college company. Whether college is a long way off or just
around the corner, Sallie Mae offers products that promote responsible
personal finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.

Contacts

Sallie Mae
Abigail Brooks, 302-451-0230
abigail.brooks@salliemae.com