Are Sallie Mae a national otherwise Individual Student education loans?
When you listen to the name Sallie Mae, you truly consider college loans. There is reasonable for this; Sallie Mae keeps a long background, where date it's got offered both government and private scholar money.
Although not, at the time of 2014, each one of Sallie Mae's figuratively speaking are personal, and her federal money was indeed offered to a different servicer. Here is what to learn if you have a good Sallie Mae loan or are thinking about delivering that aside.
What's Sallie Mae?
Sallie Mae try a company one already has the benefit of personal college loans. It has taken a few models historically.
During the 1972, Congress first-created brand new Education loan Deals Connection (SLMA) given that a private, for-earnings corporation. Congress gave SLMA, aren't called “Sallie Mae,” the new reputation regarding an authorities-sponsored corporation (GSE) to support the business within its mission to provide balances and liquidity to the education loan industry because the a facility getting scholar funds.