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Key takeaways. Sallie Mae services private student loans for a variety of degrees, including undergrad, MBA, medical school, dental school and law school. A private loan with a lender like Sallie ...
Private student loans can be taken out by the student or the parent from various private lenders. These loans might have fixed or variable interest rates, unlike federal loans, which only have ...
The US first major government loan program was the Student Loan Marketing Association (Sallie Mae), formed in 1973. [clarification needed] Before 2010, federal loans included: loans originated and funded directly by the Department of Education (ED) government guaranteed loans originated and funded by private investors.
“O ne of the very first things that borrowers with federal loans need to do is determine which specific type of student loan they have, as the repayment options will be different,” said Joe ...
The biggest student loan lender, Sallie Mae, was formerly a government-sponsored entity, which became private between 1997-2004. A number of financial institutions offer private student loans, including banks like Wells Fargo, and specialized companies. There are also a number of state-affiliated, nonprofit student loan lenders, which account ...
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
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