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My Girlfriend is in a Situation With Her Sallie Mae Student Loans. – Justin

Written by Steve Rhode

“Dear Steve,

My girlfriend is in a bit of a situation. She went to school, took out about 40k worth of student loans, which are now with fees and interest at around $80k. Sallie Mae (through MRS) is offering to set up a payment plan to take the three loans to 0.001% and stretch the payments of ~$400 a month over 200 months. Combined our incomes are nice (~$150k/year). Is this plan for real? They won’t send us anything in writing until a few months after she’s in the program.

Is this 0.001% program for real? If so, it sounds like a great deal, as we’d like to pay off the loans ahead of time over the next two years. The deal is apparently (which also makes me suspicious) until the end of the week.


Dear Justin,

That is interesting and a bit odd. It’s not clear exactly what the program is they are trying to offer. I’ve seen the 0% rate offered in some hardship programs or even when people have defaulted or settled when sued. But that doesn’t really sound like her situation.

I would strongly advise you not to do anything till you can get the program details in writing. It’s very odd they would not send anything until a few months into the program. Things just are not adding up at all here.

Ask the loan servicer for more facts and details and get back to me, please.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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