Loan Repayment Sallie Mae


I took y’all’s advice on starting the admission process sooner than later even though I plan to set my start date in August.

I just completed my Sallie Mae loan application and was approved but I had a few questions.

I took out a $88,000 loan with 11% fixed interest rate. It’s for 180 months but it says that my estimated monthly payment is $1,169 for 180 months.

Which makes it a total of 210k overall for the loan if it took me 180 months to pay back.

If I were to finish paying back the loan in 60 months instead of 180 would I be responsible for paying all the interest for the next 120 month as well or is it the sooner I finish paying it back the more I save?

Thank you, Androu

The latter. If you pay the loan off early you would not be responsible for additional interest payments.

What the $210k calculation is referring to is the total amount that you would pay if you only made minimum payments for the life of the loan.

I would suggest searching for an amortization calculator online to estimate your payoff date if you paid more than the minimum monthly payment.

Congrats on the approval!


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That’s why simply paying the minimum (assuming you can afford to pay more) is the kiss of death. Good way to have the same loan principal 5 years down the line.


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Thank you Tory!
I start my introductory flight this saturday which i’m looking forward to and hope I can set my start date for August 1st. I’ll do some more research in the best ways to finance the loan.

Thank you again!

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I paid my loan off seven years early, I was not responsible for the full amount, just the interest that was due over that period of time. Of course make sure to consult your loan documents to verify that this is correct for your loan also.


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Please, please, please (and did I say please?) do not look at your Intro Flight as anything more than an opportunity to introduce you to ATP and the training aircraft, and you to ATP. This is not a job interview, a test to see if you’ve got the “right stuff”, an opportunity for you to dazzle the instructor with your skills or anything of the kind. Far too many people see this as a gateway, the outcome of which will determine your future it is not. Plain and simple you’re not a pilot (yet) and the only one who might have any expectations is you.

Relax, ask questions and HAVE FUN! Failure to do so will result in you coming on this forum immediately after, freaking out asking if you’re finished, if you’ll ever be a pilot, it’s your career over, etc etc and me telling you how arrogant and presumptuous you are for thinking you can simply step into a cockpit after reading some books and watching a few videos and play pilot. Cool?



Got it Adam Thank you!!
I’m looking forwards for the introductory flight and even though it may be confusing and difficult at first I know hard work and determination can achieve everything. I set my mind on being a pilot and I plan on sticking to that.

Thanks again!!