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Sallie Mae is offering an interest-free loan to students displaced by Hurricane Katrina. The loan is a one-time relief loan of up to $1,000.00. Students may apply for the loan through December 31, 2005. The loan is interest-free through May 31, 2006.

You may qualify for a relief loan if you applied for a Sallie Mae loan during academic year 2005/2006 and you were enrolled for the current academic year at one of the affected schools listed on their site.

The loans will feature no interest through June 1, 2006, and then revert to prime rate – currently 6.5 percent. (877)435-7040.

*to add* This may also apply to those now affected by Rita, as it appears the above offers were put out prior to this last storm. They should be able to tell you over the phone...

Sallie Mae will also grant automatic 90-day forbearance to student loan customers in a FEMA declared disaster area. Interest will still accumulate.


Direct Loan and FFEL is granting to any borrower who resides in a FEMA declared disaster area an automatic 90 day forbearance without a request from the borrower. Interest will still accumulate.

Direct Loan Servicing Center: (800)848-0979

Federal Family Education Loan: (800)433-3243 or contact your lender

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