Banks around the World  
 
Find Bank Online Now: 
Banks in USA  »  Bank of America Chase Bank Citibank Capital One Bank HSBC Bank Wells Fargo Bank
Home » USA » Sallie Mae » Economic Hardship Deferment

Sallie Mae Economic Hardship Deferment

Sallie Mae Economic Hardship Deferment Program has basically been designed keeping in mind about the need of all those individuals who face difficulty in repaying the loans due to financial hardships or for any other reason. Sallie Mae bank gives an option to all those individuals to make a request to the bank regarding their inability to repay the loan by opting for the Sallie Mae Economic Hardship Deferment Program. The main benefit of this program is that it delays the repayment period of the loan thereby enabling the loan borrowers to pay off the loan at a later period of time. Moreover, no interest is also applied during the deferment period. In order to use this service one can at anytime log in to his Sallie Mae’s Repayment Optimizer by entering the User ID and the password of the Manage Your Loans account. If the deferment does not include any due payments then the loan holder may grant forbearance on the loan.

Sallie Mae Economic Hardship Deferment Eligibility

The eligibility criteria for the Sallie Mae Economic Hardship Deferment are given below:
  • One should earn a minimum wage of $7.25 per hour or $1,256.67 monthly or $15,080 per year.
  • For a single individual the poverty guideline is $930.83 per month, that is 150% times of $1,396.25.
In addition to this one can also take the help of the Sallie Mae's online calculator that is available on the website of the bank.

Sallie Mae Economic Hardship Deferment Application

To get enrolled in to the Sallie Mae Economic Hardship Deferment Program one has to fill up the application request from for the same. The Sallie Mae Economic Hardship Deferment Request Form is available in the website of the bank. One only needs to download the form , take out the PDF print out of the form , fill it up with all the required details and send it to the below mentioned address:

Sallie Mae-Department of Education Loan Services
P.O. Box 9635
Wilkes-Barre, PA 18773-9635

Sallie Mae Economic Hardship fax number is (866) 266-0178.


Sallie Mae Economic Hardship Deferment Customer Service

For further information regarding the Sallie Mae Economic Hardship Deferment Program one can either visit the website of the bank or dial customer service phone number (800) 722-1300. For any other query related to the Sallie Mae Economic Hardship Deferment program then you can also write a postal mail to the below mentioned address:

Sallie Mae, Inc.
P.O. Box 9500
Wilkes-Barre, PA 18773-9500
Sallie Mae, Inc.
P.O. Box 3800
Wilkes-Barre, PA 18773-3800



Sallie Mae
Automatic Debit
Debit Card
Careers
Customer Service
Forbearance
Deferment
Cosigner
Upromise
Tuition Pay
Payment
Scholarships
Department of Education
Economic Hardship Deferment
Income Based Repayment Plan
Sallie Mae Loans
K-12
Loan Consolidation
Student Loans
Smart Option Student Loan
Parent Plus Loan
Manage your Loans
Fedral Loan
Bar Study Loan
Sallie Mae Accounts
CD
Money Market Account
Savings Account