Are you worried you can’t afford to further your education and get the degree that you require so that you can take your first step on the career ladder?
If you are then you are not alone. There is no doubt about it: Cost is a major factor in any decision to go back to school. Many students think they can’t afford college. If you’re worried about your ability to pay, you should apply for financial aid — even as an adult! There are many sources of help and a Nellie Mae Student Loan is one option.
Let me tell you a bit about their background: Nellie Mae is a subsidiary of the widely known SLM Corporation, also known as Sallie Mae. It is well established and started way back in 1982.
Since then the agency has provided literally millions of students and their families with funding for their college education. Both undergraduates and graduates have benefited and because of the financial burden being lifted off them have gone on to get their degrees and move into well paid employment.
Here Is How It Works
Nellie Mae work with colleges and universities nationwide to provide successful loan programs. They are able to offer convenient online application options, including pre-qualification for Federal PLUS and private loans, Federal Consolidation Loan applications, and downloadable Master Promissory Note (MPN) forms for Stafford and PLUS Loan borrowers.
To help students remain brilliant borrowers, Nellie Mae offers cash-back rewards for on-time repayment. This gives the student a great incentive and allows them to continue having a good credit store as well as having a bit of cash back for simply taking care of their responsibilities in paying back Nellie Mae student loans.
Not only does Nellie Mae find the best funding sources to enable students to get a wonderful college education but they also have many helpful online resources such as loan counseling, and are eager to provide advice and feedback during the whole course of the loan.
How Quickly Can You Get Your Loan?
The good news is that Nellie Mae has a very quick turnaround time for private loan applications. After receiving your completed and signed loan application along with any required supporting documentation it only takes between three to five business days to get a response back regarding available lenders for your loan.
This gives you a bit of an advantage because it means that you will be able to get an answer quickly and start making plans instead of waiting around wondering when you will have an answer. Waiting to find out if your loan application has been accepted is a very tense time so you will really appreciate the quick turnaround. This is especially important if there is a declination so you can quickly make alternative arrangements.
Once accepted, the process is plain sailing. Nellie Mae will simply request certification of your loan from your school’s financial aid office. The funding will go directly to the college so that there will no need for additional paperwork and red tape in having to pay the school. This also helps reduce fraud and makes it a quick, pain free transaction.
Who Can Apply For A Nellie Mae Loan?
Apply for a loan is very easy. There are just three basic categories for borrowers of Nellie Mae student loans.
1) Undergraduate students: This is someone who is just entering or returning to college in order to pursue a bachelor’s degree.
2) Graduate students: Graduate students are people who have already received a bachelor’s degree and who are returning to college in order to get an advanced degree such as a Master’s or Doctorate.
3) Parents: Many parents help their children by taking out a loan to fund their childs education.
So if you think that you won’t have the money to go to college, think again. With financial aid and some smart planning now, you could be on your way to continuing your education beyond high school and obtain the degree that you need to get a high salaried career. Begin by talking with your parent(s) or guardian, teachers, and school counselor. They are in the best position to help you get ready for college and they will help you to submit a successful application form to Nellie Mae.