Usury Limit in California for Sallie Mae?

jamminbyalias asked:


I have a student loan from Sallie Mae with an annual interest rate of 18.25%. Does the usury limit come into play for loans through Sallie Mae. If so, what is the ceiling percentage and what can I do? Thanks in advance.

This entry was posted on Wednesday, May 20th, 2009 at 11:40 pm and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Usury Limit in California for Sallie Mae?”

  1. slabberdasken Says:
    May 21st, 2009 at 2:49 pm

    The way legal rate in california is 575 primary and 625 secondary as of san francisco rate students will pay barring state usurylaws do no apply to privately backed sallie mae.
    The most popular kind which are called stafford loansprivate loans have no apply to privately backed sallie mae.

  2. P J Says:
    May 23rd, 2009 at 9:43 pm

    Wow that is high. Have you tried to refinance them elsewhere?