Sallie Mae and Education - Other News

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Sallie Mae and Education

Sallie Mae and Education

Add to Favorites:
Sallie Mae and Education

These new checking accounts will be another feature in Sallie Mae’s Campus Solution program, which manages $8 billion in financial aid and offers a range of financial options for students. The company has more than 23 million customers around the United States and handles $235 billion in student loans.

Title IV

The proposed checking accounts from Sallie Mae and Debit MasterCard reflect recent updates to Title IV of the Higher Education Act of 1965, which said that financial aid disbursements must be available to students within 14 days of approval. As of July 2011, this disbursement period requirement is seven days, meaning that schools now have less time to provide the financial aid money to students. The new accounts will have a direct-deposit option that will smooth the disbursement process.

Long-Term Vision

The announced plan is a welcome option for the many higher-education institutions around the country that are signing on to join to the program. The accounts will ensure that students receive the money they need to pay for their classes, books and other college living expenses. Sallie Mae sees these checking accounts as a way to introduce college students to the responsibility of managing accounts and hopes that students will maintain them beyond their schooling.

Add to Favorites:

Related News:

Debt Could Put a Damper on Romance

Posted: August 18, 2017

Does credit health factor into romance? The answer is yes, according to the new Chase Slate 2017 Credit Outlook survey. Carrying a lot of debt could be a deal breaker for some people, with 37% saying that it could make them think less of a ... Continue reading
Voting for Discover it Student Card Design

Posted: August 17, 2017

Discover is asking college students to weigh in on the new design for their Discover it Student Card, so from now until September 21, they can vote on their favorite design on Discover's website. To get the word out, they are running a ... Continue reading
Bank of America and PayPal Strike a Deal

Posted: August 16, 2017

With more and more people interested in making mobile and digital payments, Bank of America and PayPal have inked a new deal paving the way for Bank of America customers to be able to link their credit and debit cards with PayPal and use ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Match Mile For Mile: We’ll match all the Miles you’ve earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
You could turn $150 into $300 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
For Excellent, Good Credit
No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
For Bad Credit