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Some education loan lenders offer a discount, benefit or repayment incentive to their borrowers. These benefits are designed as a reward for borrowers who exhibit positive payment behavior such as making on-time payments, not missing any payments, making payments using automatic debit, or using programs or tools that help borrowers prepare for repayment of loans.
When you choose Southwest as your federal loan provider, you can earn the following borrower benefit:
0.25 percentage point interest rate reduction for paying by automatic debit.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS, BORROWER BENEFITS AND UPROMISE LOAN LINK AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK WWW.SSSC.COM CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.
*Subject to the above, the automatic-debit benefit is available on Stafford and PLUS loans guaranteed 6/9/08–6/30/09. Assuming the loan is serviced by Sallie Mae, this benefit is available during active repayment for as long as the borrower’s monthly payment is successfully deducted from his/her bank account. If the loan is not serviced by Sallie Mae, other restrictions may apply as determined by the U.S. Department of Education.
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