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Article: Sallie Mae announces new Income Sensitive Repayment option.
- Article from:
- Business Wire
- Article date:
- January 30, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON--(BUSINESS WIRE)--Jan. 30, 1995--Sallie Mae today announced that it is now offering a new Income Sensitive Repayment Account to its student loan borrowers. This new account will allow borrowers under the Federal Family Education Loan Program (FFELP) to make monthly loan payments based on a percentage of their monthly income. The Income Sensitive Repayment Account is the latest in an array of flexible repayment plans offered by Sallie Mae, the nation's largest holder and servicer of FFELP loans.
Sallie Mae's Income Sensitive Repayment Account is designed especially for students who borrowed heavily to attend college and have relatively low incomes. ...