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Sallie Mae Expands Checking Access Option

Sallie Mae announced that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.

By Natasha Chilingerian | Updated on April 06, 2011

Sallie Mae announced that it will begin offering no-fee student checking accounts into which colleges and universities can directly disburse financial aid and tuition refunds owed to students.

The FDIC-insured checking accounts will be offered through Sallie Mae Bank and allow student account holders to withdraw cash from ATMs surcharge-free by using a Sallie Mae debit MasterCard. Other account features will include full online access, refund disbursement tracking, bill pay, check writing, transfers and links to other bank accounts. Minimum account balances will not be required and fees will not be charged for inactivity, low balances or PIN and signature transactions.

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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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