<p>A great deal depends on the form of loan. Interest rates may be initially lower but it’s an open secret that supplemental fees on SL’s are the money maker for the SL companies. Plus many of the consumer protections for other loans are simply unavailable for the SL’s. </p>
<p>Additionally depending on the field you’re entering the minimal amount of that loan could balloon with only the few deferments…should there be difficulties in finding a posting or unforeseen events. So the 18 months may be a projection rather than a certainty. </p>
<p>In short if you have the money on hand use it rather than accrue debt. SL debt is amongst the least favorable forms of debt in which to become engaged. Especially since you mentioned your families limited resources. </p>
<p>If things do not go as you expect and there are problems…it is a common practice for many SL companies to harass relatives both at home and at work. To the extent that grandmothers and other such vulnerable people have been targeted. And implication that the SL companies and their agents are governmental entities is a common trick which is often used on elderly relatives. And the usual FTC regs about harassment have largely been ignored in regards to the SL people and their proxies. As such little games like repeatedly calling using a 1-888 but not identifying as a means of harassment are not unknown. </p>
<p>The articles posted below are typical, albeit from last year, but there have been no real or substantive changes in addressing these problems. Which may get worse given the general liquidity problems in this ‘industry’. </p>
<p>[Probe</a> Launched on Sallie Mae Collection Tactics - washingtonpost.com](<a href=“http://www.washingtonpost.com/wp-dyn/content/article/2007/04/26/AR2007042602627.html]Probe”>http://www.washingtonpost.com/wp-dyn/content/article/2007/04/26/AR2007042602627.html)</p>