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i actually worked for sallie Mae as a student loan consultant. It depends on the type of loan that you are looking for. they all vary from loan to loan.

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โˆ™ 2011-09-13 00:19:53
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Q: Does Sallie Mae base a student loan on income to debt credit and how much do people usually get on a student loan from them?
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Related questions

Do you need a job to get a credit card?

Normally you need a source of income to get a credit card. Some credit issuers, though, will issue a credit card to a college student based on his parents' credit record; this is done with the parents' permission, usually with the condition that the parents are responsible for any delinquent balances. (This helps the student establish a credit rating, with the risk of the student demolishing the parents' rating.)

Does home foreclosure effect ability to get student loan?

In the US, no your eligibility for student loans is not dependant on credit or income.

What information is required to apply for Visa student credit cards?

Usually, one will need to provide one's bank details, evidence of income and proof of address. The application may be subject to a credit scoring check.

Where can a student get a credit card?

If you are a student and you are seeking to get a credit card, you may need to check with your bank for more information. If you have an account, steady income and can pay your bills on time, you may be qualified.

How do i get a 1500 loan for a student with no job and reasonable credit?

Fill out the FAFSA form at your Financial aid office at your college. It is not based on income or credit.

What is the percentage sallie Mae can garnish from you per garnishment?

Up to 25% of your disposable income. Disposable income is gross - taxes.

Does Sallie Mae student loans have good interest rates?

Sallie Mae student loans offer good interest rates for students but as with any loan you should plan on repaying the loan in the shortest period possible. You need to carefully consider the amount you need to borrow as well as the percentage of your future income that will be devoted to the repayment of the loan. Begin repaying your loan as soon as possible, Sallie Mae offers several repayment programs, each with a different cost to you.

Will co-signing a student loan harm your personal credit?

It will if the primary borrower does not keep the terms of the agreement. It will also affect the person's credit score such as the income-to-debt-to- credit ratio.

If a defaulted student loan is consolidated with repayment at 0 does this affect credit rating for non-payment?

No, if you receive an income sensitive repayment plan after consolidating and the payment is $0 because of your dependents and income, then it will not adversely affect your credit score.

Is it possible for a student to get a mortgage with a partner that is already employed full time?

Yes, as long as there is enough income to support the payment. If you as a student do not have any income, the other person will have to prove the income to support the new mortgage payment, any loans (car,/student loans), credit cards in both names and the taxes & hazard insurance.

Is interest income normally credit or debit?

All income (or revenue) maintains a credit balance. Therefore Interest Income will maintain a credit balance and therefore is a credit.

After a promotion how do you increase your listed income at the credit bureaus?

Credit bureaus don't usually keep that information. You provide it to prospective creditors when you apply for a loan or credit card.

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