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, therefore its direct loans aren’t federal loans. Essentially, federal figuratively speaking contain funds which are given by the U.S. Federal federal government, while personal figuratively speaking result from entities such as for instance banking institutions along with other banking institutions. Nonetheless, personal entities frequently are loan servicers for many federal loans with respect to the federal government. Sallie Mae once supplied this kind of function for federal figuratively speaking, and with a spin-off, it continues to achieve this.

Key Takeaways

  • SLM Corporation (SLM), more commonly known as Sallie Mae, is just a general public business 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.
  • The charter that is federal in 2004, while the business ended up being privatized and included.
  • The image of Sallie Mae persisted as an entity for the government because it offered and serviced the William D. Read more