Are there any discounts or benefits for automatic payments on Sallie Mae student loans?

Yes, Sallie Mae does offer discounts and benefits for borrowers who enroll in automatic payments for their student loans. By setting up automatic payments, borrowers can qualify for a 0.25% interest rate reduction on their loans. This can potentially save them a significant amount of money over the life of their loan. Additionally, Sallie Mae provides a benefit called On-time Payment Rewards, which offers an additional 2% reduction of the loan's principal balance after completing 12 consecutive on-time payments. This further encourages timely repayment and helps borrowers reduce their overall debt. Enrolling in automatic payments is a convenient way to ensure consistent and timely loan payments while enjoying these money-saving discounts and benefits offered by Sallie Mae.