Are Sallie Mae Student Loans Eligible for Forgiveness?

If you have student loans from a private institution like Sallie Mae, they’re likely not eligible for student loan forgiveness. However, the type of debt you have from Sallie Mae depends on when you first borrowed from the company. 

See if your Sallie Mae student loans are eligible for forgiveness — and what to do if they aren’t.

Does Sallie Mae offer student loan forgiveness?

Sallie Mae has a long history in student lending, and originally began in the 1970s as a government enterprise providing federal student loans. While the modern Sallie Mae you know today doesn’t offer student loan forgiveness, the answer isn’t so simple for borrowers with older Sallie Mae loans. 

In 2014, the company split into two separate organizations: The Sallie Mae business arm began originating and managing private student loans exclusively, while its federal loans were spun off into another company called Navient. 

Those who borrowed from Sallie Mae after this 2014 split have private student loans, which aren’t eligible for federal forgiveness programs. However, Sallie Mae will discharge debts for borrowers who die or become totally and permanently disabled.

If you borrowed from Sallie Mae before 2014, it’s possible that you have federal student loans from the company. In that case, your debt would have been transferred to Navient (which, in turn, could have later transferred it again to another loan servicer called Aidvantage). If that describes your situation, you may be eligible for federal loan forgiveness programs, depending on the details of your debt. 

Are my Sallie Mae student loans private or federal? 

As mentioned above, if you borrowed a Sallie Mae loan after 2014 — or if Sallie Mae is still the current owner of your debt — you have private student loans and aren’t eligible for federal student loan forgiveness programs.

But if your Sallie Mae debt was transferred to Navient or Aidvantage, you could have federal student loans. Here’s how to confirm:

1. Visit the Federal Student Aid (FSA) site at StudentAid.gov.
2. Log in with your FSA ID, email address, or phone number.
3. Navigate to the “My Aid” page, which will show you the details of the federal loans you’ve borrowed and which company currently services them.

Alternatives to Sallie Mae student loan forgiveness

While newer Sallie Mae loans don’t qualify for forgiveness, you may have other options. Find out if one of these strategies can help you better manage your debt. 

1. See if you can pause your loans

Many private lenders, including Sallie Mae, allow you to temporarily pause or reduce your loan payments in certain circumstances. If you return to school, enroll in a residency or fellowship program, or otherwise face financial hardship, Sallie Mae may have a solution that could help. 

Whatever your circumstances, contact your loan servicer to see what options you have. A lender may be more willing to help if you’re proactive and take action before you miss multiple payments. 

2. Research state-based assistance programs

Many states offer student loan repayment assistance for borrowers who work in high-need professions. To qualify, you typically must work for several years in an underserved area at an eligible job. In exchange for your service, the state agrees to pay off a portion of your student loans. Common fields that offer these programs include teaching, health care, dentistry, and law.

While exact requirements vary by program, many of those opportunities will help repay both federal and private student loans. To see what’s available in your area, visit your state’s Department of Education website or check with your professional association.

3. Ask your employer for help

Employers are increasingly helping to repay their workers’ student loans as a standard workplace benefit. Companies may offer employees a flat monthly amount toward their student debt, or match an employee’s loan payments up to an annual or lifetime maximum.

Ask your employer if it might institute a similar program, or consider switching to a company that does. 

How to refinance your student loans

If you don’t qualify for student loan forgiveness, you might consider refinancing Sallie Mae loans instead. 

When you refinance, you take out a new loan with different rates and terms, then use those funds to pay off your current student debt. This gives you the opportunity to lower your interest rate, reduce your monthly payment, or change your payoff timeline. Plus, you can consolidate multiple debts into one account, making it simpler to track your payments and due dates.

While Sallie Mae itself doesn’t offer student loan refinancing, many other lenders do. Here’s how to get started:

• Research and compare lenders: When comparing your options, be sure to consider interest rates, repayment terms, and any fees the lender may charge.
• Prequalify, if possible: Many lenders allow you to prequalify for a loan after inputting a few pieces of information. When you prequalify, you can view the estimated rates and terms you’re likely to get, giving you a better sense of what each lender can offer. Just keep in mind that these rate estimates aren’t final offers.
• Choose your loan option: Once you’ve found the right lender, pick the loan option that fits your situation.
• Complete an application: If you’ve prequalified, you’ll still need to complete an application. The lender will conduct a hard credit pull (which can impact your credit) to determine your eligibility.
• Keep up with your payments: If you’re approved, continue making payments on your current loan to avoid being late, which can hurt your credit. Your new lender will work with your old one to pay off the debt. Once that’s complete, you can begin making payments to your new lender instead.