I have a Sallie Mae loan that is in the grace period and I have been only required to pay interest on the loan but I have been paying both principle and interest on the loan I have gotten the balance down to $1700 from $3500. My payment was going to be $50 if I kept the balance at $3500. Sallie Mae told me that when it does go to full repayment the payment will be adjusted to the new balance and be based on 72 months repayment. I was told when I got the loan that it will always be $50 and it will not go down when it goes to repayment if the balance goes down. Does anyone know if that is true or not? Thanks!
