(Sloan) Student Loan App SIM

(Sloan) Student Loan App SIM is a loan simulation, calculator and complete guide about FFEL Program student loan repayment. It is an independent educational app for people still paying off a legacy federal student loan. Everything runs on figures you type in yourself: there is no account, no login, and no personal data.

What the app does

• Simulates FFEL Program student loan repayment, so you can see how a balance, a rate and a term interact.
• Works as a calculator for the figures you are weighing up.
• Works as a complete guide to how repayment on this older programme is organised.

What it does not do

This app does not offer loans and cannot be used to apply for a loan. It does not process applications, disburse funds, check application status, or access any account. It is not an official representative of Sloan Servicing and is not affiliated with, endorsed by, or connected to Sloan Servicing, and it does not represent any government entity. Brand names are used descriptively only. The app never asks for a Social Security number, an account number, a password, or a one-time code, and you should never type those anywhere except an official channel you reached yourself.

Key facts about the programme

• The Federal Family Education Loan (FFEL) Program is closed to new borrowing. Federal student loans made since mid-2010 are Direct Loans, so an FFEL balance is a legacy balance.
• FFEL loans were made by banks and other lenders with a federal guarantee, so some are still held commercially rather than by the Department of Education. Who holds a loan affects which options are open to you.
• Rules and rates for these older loans have changed several times, so confirm any figure against your own paperwork.

All figures the app produces are estimates for planning only, not a quotation and not a statement of your balance. Always confirm the actual terms with Sloan Servicing directly. Official source: https://nelnet.studentaid.gov (Sloan Servicing). Federal programme information is published at https://studentaid.gov. This app and this page are independent and unofficial.