That means that individuals who want to go to college in Washington are going to need assistance in footing the bill. The Student Loan Finance Association, now owned by Sallie Mae, is now the officiator of most Washington student loans.

The state of Washington is a beautiful place to live with a great social atmosphere, which is why so many young people are drawn to the state to attend college. Of course, there are also great schools in the area, providing excellent educational opportunities, but these schools are just as expensive as every other university in the country. That means that individuals who want to go to college in Washington are going to need assistance in footing the bill. The Student Loan Finance Association, now owned by Sallie Mae, is now the officiator of most Washington student loans.

Aside from financing the FFELP federal loans with tax exempt state educational bonds that help save consumers money on the cost of the loans, the SLFA also provides alternative loan options. As a not-for-profit agency, this organization can beat just about any Washington student loan offered by a private institution or bank. The Washington First loan is probably the number one option for students seeking alternative loans to cover the amount of money owed for college after the application of federal funding.

As an alternative loan provided through the Sallie Mae corporation, this is basically Washington's version of the Signature Loan. It can be customized and configured to meet the financial needs of each individual student, with various repayment options available and incentives for on time repayment or debited payments from a bank account. Students must be residents of Washington and must either have sufficient good credit history or enlist a cosigner with good credit history and a low debt-to-income ratio to be eligible. Students must also be enrolled in school at least half time.

Repayment on alternative Washington student loans will not be required until six months after your graduation, unless you quit school early, at which point repayment is immediately due. This gives students time to find and settle into a new job before taxing their income and financial ability. If you have trouble at any time making the required payments, contact the SLFA to see what can be done to help you with deferment or reconfiguration of payments so that you don't affect your credit.