Question by Marie123: Sallie mae debt being paid by insurance; what does that mean? I was effected by both hurricanes Katrina and Rita here in south La. My finances were/are in ruin. I've managed to hang on to my home and car so far. I am very late on my student loans with Sallie Mae, who has been very rude. I'd applied for and was approved thru my employer for a federal program that gives credit off of your loan for each year worked at a rural indigent hospital in need of nurses. I've worked here 14 yrs. I was told by SMae they do not recognize this though they are familiar with it * In checking my credit report I see under Sallie Mae it says 'debt being paid by insurance'. Any idea what this means? What insurance? I have not been notified of any changes in my insurance except my homeowners going up first $ 500 a yr because my credit dropped, $ 400 a yr due to my hurricane claim-only one I've had with Horrible, uh, Horace Mann. Now another $ 100 a mo. since the state had to pay for those who had no ins. it's passed on to us who have! Thanks so muc Best answer for Sallie mae debt being paid by insurance; what does that mean?:
Answer by aj485
The insurance that Sallie Mae is talking about is insurance on the student loan, not on your home or your car. It is insurance that is included on many student loans, and was probably paid for by the fee that you paid up front when you got the loan. On your credit report, this notation is basically saying that you aren't paying your loan at this point, so that is probably part of what helped your credit score drop, which, in turn, caused part of the increase in your homeowner's insurance premium.
Answer by Scott C
I would check with Sallie Mae, I would assume that they are using some type of reporting code inaccurately.
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Available through its financial literacy website, CollegeAnswer.com, Sallie Mae offers tips and tools to help students avoid borrowing more than they need to pay for college. - Talk to someone trustworthy who is experienced in money matters. Perhaps ... New From CollegeAnswer.com: How Much Should You Borrow To Pay For ...
Sallie Mae Online Banking is easy and familiar since so many Americans have had their student loans with this financial institution in their past. To help earn your new business when investing in CDs or opening savings accounts, the Sallie Mae Bank is offering interest rates that are well above the national average. This way your money will earn its greatest return on investment. Members of its Upromise college savings rewards program have earned $ 600 million to help pay for college. Sallie Mae is also one of the leading financial service providers for universities and governments at all levels, including supporting $ 8 billion in ecommerce transactions annually at nearly 1,000 campuses.
The bank rates for the New Online High Yield Savings account are presently at 1.10%. With this account there is no minimum balance or opening deposit required, but unless you make a deposit no return on an investment can be made.
The interest rate with this account is compounded daily and all deposits up to $ 250,000 are insured by the FDIC.
There are also certificates of deposits with the Sallie Mae Bank.
The current CD rates include the 1 year CD is presently earning an APY of 1.20%. The 3 year CD is earning an APY of 1.55%. The best CD rates are form the 5 year CD. This CD is earning an APY of 2.15%.
Even with no minimum deposit with either of these accounts are required, the Sallie Mae Bank reserves the right to close any account that has a balance of $ 1 or less at their discretion.
The savings account rates were posted on June 17, 2011 and the CD rates on March 4, 2011. Both sets of rates are current but subject to change without notice.
You can view open and view your Sallie Mae Online Banking accounts via the internet for your convenience 24/7.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.
For additional resources involving financial help, please view PNC Online Banking, best bank savings rates, Westpac Online Banking and Online Banks at http://onlinebanksblog.weebly.com
Article Source : http://www.onlinebanksblog.com/sallie-mae-online-banking/ More Sallie Mae Online Banking Topics
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