FAQs
All of our loans come with a fixed rate of 4%.
No. Loan repayment begins 6 months after the Borrower's graduation.
All loans have an 8 year term (96 monthly payments).
| Loan Amount | Monthly Payment | Total Interest |
|---|---|---|
| $7,500.00 | $92.00 | $1,267.52 |
| $10,000.00 | $122.00 | $1,701.31 |
| $15,000.00 | $183.00 | $2,551.96 |
| $20,000.00 | $244.00 | $3,402.62 |
| $25,000.00 | $305.00 | $4,253.27 |
| $30,000.00 | $366.00 | $5,103.92 |
No & Yes ......
Possible Impact on Credit Score:
When you apply for an SAF loan we do pull your credit report as part of our underwriting process for debt verification and fraud prevention. This may impact your credit score.
Impact on Credit Score:
If you borrow from SAF, we do not currently report your payment history to credit bureaus. SAF is working to develop this relationship. A borrower may also request SAF to provide payment history and details to any lender for credit history purposes. However, if a Borrower defaults on their loan, their file may be sent to a collections attorney and collections activities will be reported negatively on your credit report and lower your credit score. Collection activities negatively impact both the Student Borrower and their Guarantor.
There is no penalty for pre-paying one’s loan at any time.
Every Student Borrower and Guarantor receives a loan repayment plan with their promissory note. In addition, prior to graduation SAF follows up with expected Graduates. At that time, validate the Student Borrower’s graduation date and resend their loan repayment schedule and payment information.
All loan payments are due by the 1st of each month.
Student Borrower’s have four options for loan payment method:
- Enroll in ACH Draft: The ACH Draft Enrollment form must be completed, and the original signed form received via traditional mail. Once the form is received and the Borrower is set-up in our system. SAF withdraws the Student Borrower’s monthly payment or a specified amount (must be above the minimum payment due) on the 1st of each month from their registered account.
- Pay via SAF Website - Borrower Services - Loan Payment: A Borrower may choose to pay online through SAF's secure payment portal on the website via ACH or Credit Card.
- Pay via Invoice Online Payment link: SAF's email invoice system will be switching to a new invoice system in the Summer of 2020. Stay Tuned. Student Borrowers currently set-up in SAF’s invoice system receive an email invoice on the 15th of each month. The online invoice states their monthly payment due date and provides a link to SAF’s payment portal where the Student Borrower may make their monthly payment via ACH or Credit Card.
- Pay via Check: A check payment must be mailed to the Student Aid Foundation address. Checks should be made payable to Student Aid Foundation.Student Aid Foundation
1266 West Paces Ferry Rd. #577
Atlanta, GA 30327
Please note that Borrowers who decide to pay via their own banking institutions online banking, that the checks arrive to SAF via USPS postal mail delivery. Credit to a Borrower’s account is based upon payment receipt not the date the check was printed. This is the slowest method of payment.
SAF discourages Credit Card payments due to possible interest incurred on these funds by the Borrower. In addition, fees are incurred that lower the amount of funds that go back into available funds to loan to future women seeking assistance.