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Are Sallie Mae Loans Cons

Are Sallie Mae Loans Cons

SLM Corporation (SLM), more popularly known as Sallie Mae, is a general public organization and a private-sector lender, so its direct loans are not federal loans. Essentially, federal student education loans contain funds which can be provided by the U.S. Government, while personal student education loans result from entities such as for example banking institutions as well as other banking institutions. Nevertheless, private entities frequently act as loan servicers for several federal loans with respect to the federal government. Sallie Mae once supplied this type of function for federal figuratively speaking, and with a spin-off, it will continue to achieve this.

Key Takeaways

  • SLM Corporation (SLM), more popularly known as Sallie Mae, is just a general public company and a private-sector lender, therefore its direct loans aren’t federal loans.
  • It was a federally chartered, government-sponsored enterprise when it began in 1972, Sallie Mae was known as the Student Loan Marketing Association – and. Continue reading Are Sallie Mae Loans Cons