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Key takeaways. Sallie Mae offers private student loans and banking. Refinancing a Sallie Mae loan with another lender could result in a lower interest rate and monthly payment
The Federal Loan Consolidation Program was created in 1986. In 1998, the United States Congress changed the interest rate to the aforementioned fixed rate weighted mean, effective February 1, 1999.
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.
The FFELP offers four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans. [3] The main federal student loan is the Stafford Loan. There are two types of Stafford loans: Subsidized.
In 2014, the company underwent another big adjustment when Sallie Mae split to form Navient and Sallie Mae. Navient is a federal student loan servicer that manages existing student loan accounts ...
The Sallie Mae Parent Loan provides the option for anyone — parents, grandparents or even friends — to borrow on a student’s behalf. How Sallie Mae Student Loans Can Help Parents Pay for College
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