Sallie Mae Student Loan Consolidation

The Washington State Bar Foundation is pleased to partner with Sallie Mae — the nation's premier provider of financial services for education — in making student-loan consolidation services available to members of the WSBA and their families.

The goal is to provide expert debt-counseling services to WSBA members and especially to recent law-school graduates.

Lock In Low Rates

If you haven't consolidated your loans, you can still lock in rates as low as 4.75 percent by applying during your post-graduation grace period.

Sallie Mae's SMART LOAN Consolidation Account can help you reduce your monthly student loan payments by up to 48 percent. Additional monthly payment relief is available via Sallie Mae's graduated repayment plans. 

For example, if you borrowed $60,000 in Stafford loans to pay for your undergraduate and law-school degrees, you can expect to start paying a monthly payment of $701 under the traditional 10-year repayment plan.

If you apply to consolidate during your grace period, you can lock in a rate as low as 6.625 percent and extend your payback period to 30 years. Consolidation can reduce your monthly payment by 52 percent to $336.

By always making your payments on time using automatic debit, you can reduce your interest rate by 1.25 percentage points under Sallie Mae's borrower-benefit programs.*  These rate discounts can reduce your total interest payments by hundreds or even thousands of dollars.

Sallie Mae also offers expert counseling on consolidation, including deferment and forbearance options.

Questions

For more information, please call Sallie Mae at 800-448-3533. Be sure to identify yourself as a member of the Washington State Bar Association.

Or visit the SMART LOAN website. Sallie Mae offers a wide range of consolidation services, including an online application, complimentary consolidation concierge service, repayment calculator, and FAQs.

*Terms and conditions apply. Call Sallie Mae at 800-448-3533 for details.