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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.
As of 2021, approximately 7.8 million Americans from 18 to 25 carry student loan debt, with an average balance of almost $15,000. [64] For adults between the ages of 35 and 49, the average individual balance owed exceeded $42,000. The average debt for adults between 50 and 61 is slightly lower.
Educational Credit Management Corporation (ECMC) is a United States nonprofit corporation based in Minnesota. Since 1994, ECMC has operated in the areas of student loan bankruptcy management and loan collection. ECMC is one of a number of guaranty agencies that oversee student loans for the United States Department of Education.
Key takeaways. CornerStone was previously one of eight approved federal student loan servicing agencies that provided loans nationwide. Although Cornerstone was contracted to service loans through ...
After a longstanding moratorium enacted around the onset of the pandemic in the U.S., student loan repayments recommenced in October. For millions of Americans, the pressure to pay down hefty debt ...
Conduent Education Services, formerly ACS Education Services, was a company that serviced private, campus-based and federal student loans. It closed on Sept. 1, 2019, and transferred its loans to ...