Sallie Mae


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Sallie Mae

Sallie Mae

The Student Loan Marketing Association (SLMA). A publicly-traded company chartered by the U.S. Congress to guarantee student loans and to provide a secondary market for student loans made by other lenders. In order to do this, it buys student loans and repackages them, selling them as short-term and medium-term debt obligations. Sallie Mae also provides other services, such as debt management, to students, universities, and businesses. It was established as a government-sponsored enterprise in 1972, but ended its federal charter in 2004. See also: Farmer Mac, Fannie Mae, Freddie Mac.

Sallie Mae

Sallie Mae.

This corporation purchases student loans from various lenders, such as banks, and packages the loans as bonds or short-term or medium-term notes. After issue, these debt securities trade on the secondary market.

Sallie Mae guarantees repayment of the bonds and notes, and uses the money it raises through the sale of these securities to provide additional loan money for post-secondary school students. Sallie Mae also arranges financing for state student loan agencies. Its shares trade on the New York Stock Exchange (NYSE).

Sallie Mae

Popular name for Student Loan Marketing Association.This organization has nothing to do with real estate,but it is defined here because there is sometimes confusion with all the other “Maes”that are related to real estate finance—Fannie Mae,Ginnie Mae,Maggie Mae,and Munie Mae.

References in periodicals archive ?
A number of incumbent directors of the Sallie Mae Bank board of directors will likely be appointed to the SLM BankCo board of directors prior to the spin-off, the firm said.
The federal government pays the interest if students qualify for deferment, according to Sallie Mae.
College Loan said Sallie Mae obstructed thousands of borrowers trying to consolidate student loans with other lenders and, in some cases, prevented them from getting lower interest rates.
Upromise cash rewards can be invested in a tax-deferred 529 college savings plan, deposited into a Sallie Mae High-Yield Savings Account, used to help pay down an eligible Sallie Mae student loan, or sent to members in the form of a check.
Sallie Mae officials, wrote Anderson and Binstein, "recently traveled to the home of one transition official to make the case for the status quo.
Sallie Mae savings accounts offer free mobile banking, enabling customers to deposit cheques, check balances, and transfer funds while on the go.
The other firm will comprise Sallie Mae's private education loan origination and servicing businesses, including Sallie Mae Bank and the private education loans it currently holds.
Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced that it has sold the residual interest in its SLM Student Loan Trust 2007-4 securitization to a third party.
Sallie Mae (NASDAQ: SLM)-formally SLM Corporation- a US-based saving, planning and paying for college company, has celebrated the 10-year anniversary of the completion of its transition from a government-sponsored enterprise (GSE) to a fully private sector company.
19 April 2013 -- Financial services company Sallie Mae (NASDAQ: SLM) said it has signed a pledge to support higher education for workers in Indiana.
Sallie Mae (NASDAQ: SLM), a US financial services company specialising in education and operating a loan servicing centre in Wilkes-Barre, has said that it is looking to create hundreds of new jobs in Luzerne County.
14 February 2013 -- Sallie Mae (NASDAQ: SLM), formally SLM Corp.