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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.
In 2017, 6,708 federal complaints were filed about the company, in addition to 4,185 private complaints – more than any other student loan lender. [3] In 2018, it was revealed that Navient had attempted to collect loans from co-signers after a student's accidental death. [3]
A private student loan is a financing option for higher education in the United States that can supplement, but should not replace, federal loans, such as Stafford loans, Perkins loans and PLUS loans. Private loans, which are heavily advertised, do not have the forbearance and deferral options available with federal loans (which are never ...
Compare loan options from multiple lenders — don’t just go with the first private student loan company you find. Follow these steps to find the best one: Decide between a fixed and variable rate.
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This can add years to your repayment timeline, in addition to increasing the overall cost of the loan. Interest rates on private loans can be fixed or variable and currently fall between 4 percent ...
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