Sallie Mae Student Loan Services
Background
Sallie Mae Corporation, ticker symbol SLM, is one of the largest lenders of all kinds of student loans, including undergraduate, graduate, and loans for parents.
Beyond student loans, Sallie Mae has even expanded to include home mortgages, small business financing and information relative to job hunters.
History
In 1972 Sallie Mae was founded as an adjunct to the Federal government. Since then the company has slowly but surely divorced itself from government ties and now stands alone as a private, independent student loan corporation that specializes in providing government and private student loans to students and their parents.
Services
Planning for College has never been so easy with the wealth of information provided by Sallie Mae. As one of the biggest financial aid providers in the country it is no wonder that they have had time to acquire and collate the expertise necessary to guide all types of students in all aspects of a college education, besides managing their student loan accounts.
Loan Products
Students will find that if they are the principal borrower on their student loans that Sallie Mae will emphasize the Federal Loans first. Federal loans, according to many college experts should always be explored before private loans. Many Federal loans, such as the subsidized Stafford Loan is a guaranteed student loan. This need-based loan requires no credit-check, only an application that can illustrate economic need. Students who are awarded subsidized loans are also exempt from paying for loan interest until the loan repayment comes due - six months beyond the date of graduation.
Other specialized student loans are available through Sallie Mae:
- Community college Loan
- Continuing Education Loan
- Tuition Loan Answer
- Career Training Loan
- Signature Student Loan
For parents looking to fund college Sallie Mae provides the Federal Parent PLUS Loan. Parents can also apply for a K-12 Loan and a Tutorial Financing Loan.
Grad students can apply for Graduate PLUS Loans, business, law or medical school loans.
Student Borrowers
The Sallie Mae Corporation literally takes student borrowers by the virtual hand and leads them step-by-step through the loan process, from choosing the right suite of student loans, through the application process.
