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 ?
In addition to the payment of restitution to harmed borrowers and a civil money penalty, the FDIC orders require Sallie Mae to take affirmative steps to ensure that disclosures regarding payment allocation and late fee avoidance are clear and conspicuous, that servicemembers are properly treated under the SCRA, and that all residual violations be remedied to ensure compliance with applicable laws.
The other modules and the underlying Clementine software help Sallie Mae determine the effectiveness of the email and other campaigns, Hertz adds.
Some lenders, including Sallie Mae, will lower your interest rate if you choose to pay back loans via direct debit.
The Sallie Mae Family Scholarship Program awards USD 5,000 scholarships, renewable for up to three years -- or up to USD 20,000 per student -- until the student earns a bachelor's degree or certificate.
Paul Thome, president, Sallie Mae Bank, said, "Education is the key to a brighter future, and these scholarships are just one way we support tomorrow's leaders today and invest in our local community.
This could be bad news for what Sallie Mae officials estimate to be as many as 1,000 credit unions that participate in the firm's private education loan referral program.
The acquisition of Sallie Mae Campus Solutions, which provides business-to-business solutions, such as e-commerce and billing payment solutions, refund disbursement services and tuition payment plan administration, to higher education institutions in the US, boosts Higher One's payment and refund service capabilities, the buyer said.
Sallie Mae had four million shares of Preferred Stock Series B outstanding as on January 28, 2011, it said.
metro area," says Sallie Mae Fund President Kathleen deLaski.
A competitor of Sallie Mae earlier this month sued the nation's largest holder of student loans, alleging that it improperly denied borrowers the right to consolidate education loans with the lender of their choice.
The scholarships are awarded by Sallie Mae, along with the Sallie Mae Cup, to the high schools whose students accomplish the most in both the classroom and in athletic competition.
They set up a federally chartered corporation called the Student Loan Marketing Association, a "secondary market" better known as Sallie Mae. As soon as Heather graduated, Union National Federal could sell her loan to Sallie Mae and never deal with collections at all.