<p>I heard if I have a U.S. bank account (not U.S. bank but an account within US boundary), I can divide my semester payment about two or three times with zero interest rate.
Is this true? </p>
<p>And can someone please explain how that Sally Mae thing works? I read everything carefully and I don't even know what that thing does. Thanks!</p>
<p>The Sallie Mae payment plans basically split the amount of money you want to pay to the university (usually the parent contribution) into parts. Each part is paid every month for ten months or twelve months (depending on the plan). Normally, one would have to pay half of one’s total university payment before the beginning of each semester. Currently, the first payment dates for some payment plans have already passed.</p>
<p>
Just to add: Even though the first payment dates have passed, you can still enroll in the program whenever you want (as long as it’s before august 7th, and remember that the processing will take 2 or 3 days, so make sure that you do it very early in August or late July to ensure everything will be fine). What they are going to do if say you are thinking about enrolling right now with the 10 months plan is that you would have to pay the first 2 months of payments at the same time + the administration fee, and then you would have to pay the monthly payment again from August through whenever.</p>