Very few students can attend the college of their choice without taking out an education loan. The cost of today’s post-secondary education is out of reach of the average household, even with grants, scholarships and savings. The number one company to contact for a student loan is Sallie Mae.
Sallie Mae’s Past
Officially, Sallie Mae’s name is the Student Loan Marketing Corporation or SLM. It was created as a government sponsored enterprise in 1972 to originate federally insured student loans under the Federal Family Education loan Program (FFELP). In 1997, the SLM began privatization and as of 2004, Sallie Mae cut its ties to the federal government. The company is listed in Forbes 500 and Fortune 500 and her stock is traded on the New York Stock Exchange.
Sallie Mae’s Present
Sallie Mae is the foremost education loan company in the United States. It manages more than $126.9 billion of debt for more than 9 million borrowers. With offices all over the country, it employs about 10,000 people. In addition to helping college students find the right loan, it provides debt management services, business and technical products. Its clients include colleges and loan guarantors.
Besides offices all over the country, the SLM Corporation maintains a comprehensive web site offering information to assist students, parents and guidance counselors with financial aid.
The information helps parents and students plan for college costs, providing current facts on how to choose a school, prepare for jobs and, of course, secure a student loan to supplement savings and scholarships. Forms to help apply for an education loan are on a secure server and guide the applicant through the process easily. Applicants receive an ID and password so that they can access their information securely. After graduation, applicants can find help in managing loans and forms for home and business loans. Sallie Mae is certainly the firm to know for college help and everything after.