What is the Sallie Mae Prepaid MasterCard? XE "What is the Sallie Mae Debit Card?

A. The Sallie Mae Prepaid MasterCard is a re-loadable MasterCard card that facilitates the distribution of refund disbursements from your school. Refund disbursements may now be automatically loaded onto your Card throughout the school year, as determined by your school.

You can use the funds in your account to pay for books, housing, meals, travel and any other expenses that you may have. Simply use your Card to make purchases at MasterCard locations, withdraw cash at ATMs, shop online and through mail order, and pay your bills. You can also give your parents and others the ability to load additional funds onto your Card by using a credit card.

Your funds are FDIC-insured up to $100,000, and, with the MasterCard Zero Liability policy, your funds are protected from theft or loss in the event that your Card is lost or stolen (see the Terms & Conditions for details). Best of all, you no longer need to stand in line or wait for the mail to come to receive refund disbursements from your ... more.

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