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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.
It was created in 1963 by an Act of the Pennsylvania General Assembly, and engages in loan guaranty, loan servicing, financial aid processing, outreach and other student aid programs. It was announced on July 8, 2021 that the agency and the United States Department of Education would not continue their relationship, effective on December 14, 2021.
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
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 ...
It all started with Iowa Student Loan, a nonprofit organization that’s been around since 1979. In 2001, it launched a for-profit subsidiary called Aspire Resources. Aspire Student Loans: How to ...
By phone: Call 800-243-7552 or 515-243-5626 to use the automated payment service. Online account: Log in using your username and password. If you’re creating an account with Aspire, you’ll ...
Navient Corporation is an American student loan servicer based in Wilmington, Delaware.Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
Select private student loan borrowers may be eligible for student loan forgiveness through former servicer Navient. Plus, more sweeping student loan cancellation was announced for federal ...