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Sallie Mae Student Loan

Sallie Mae is a type of federal student loan that was created in 1972 as a government sponsored enterprise for enhancing public access to higher education for student loans. Although Sallie Mae has been started out as a government enterprise in 1972, in 1976 the SLMA Privatization act was passed as law. This law created the SLM Corporation which is now the holding company of Sallie Mae Student loans.

Sallie Mae operates loan services in Arizona, Florida, Gilbert, Panama City, Indianapolis, Indiana, Pennsylvania, New Jersey, Mount Laurel, Kellen, Texas etc. Sallie Mae is a Forbes 500 and Fortune 500 listed company. It is one of the 100 best corporate Citizens enterprise according to the Business Ethics magazine. The official website for Sallie Mae Student Loan is

The Subsidiaries of Salie Mae

Together with Sallie Mae name, SLM owns or operates or is affiliated with the companies like Arrow financial Services, First Trust Financial, American Management Services Corp., Sallie Mae home loans, Sallie Mae Student Loans, Southwest Student Services Corporation, Student assistance Corporation, Student loan finance Association etc.

Benefits of Sallie Mae Student Loan

  • Anyone can borrow money up to 40,000 dollars
  • The Loan covers the entire expenses of education
  • Does not require any cosigner
  • Has easy and fast approval time.
  • Does offer bad credit student loans
  • Repayment terms are easy and after 6 months of completion of education
  • Has long repayment of 10 years which becomes easy for students to repay.
  • Requires less documents and the process is easy to get approved.

Sallie Mae Student Loans (Federal Student Loans)

Sallie Mae is considered as the largest of primary private education company who provides student loans and assistance. They provide and support financially to millions of students since the year 1972. Nowadays it is difficult for many students to fund their higher education expenses. A Sallie Mae student loan is therefore a boon for these students as it covers other expenses related to education and provides simple terms of repayment.

Sallie Mae offers two types of loans – Private Loans and Federal Loans.

Sallie Mae Federal Student Loan – Federal student loans are granted by the government and generally come with a fixed interest rate. These types of loans are available for anyone and does not depend on his/her credit history. The only requirement of this type of loan is that the student should have been enrolled in a recognized/reputed university or college. Such Federal loans are of two types one of which is Stafford Loan and the other is Federal Perkins Loan. These loans can also be given to the parents or the guardians of the student. Federal student loan does require the borrower to fill FAFSA which means Free Application for Federal Student Aid.

Sallie Mae Private Student Loan – Obtaining a private student loan is easier than obtaining a federal student loan as the student is not required to fill in the FAFSA form. Although the private student loan may require a credit history either of student or cosigner. Sallie Mae student loans are granted by Sallie Mae itself as private student loans. It may require evidences of school expenses and require credit history of the borrower.

Sallie Mae Student Loan Facts

A Sallie Mae student loan is a very good way to pay for college/university higher education expenses. Sallie Mae can help us to obtain a federal student loan together with alternative financing for student who could not qualify. These type of loans have the best interest rates and repayment policies. In the Perkins loan the school acts a lender and not Sallie Mae itself and can also act as a guarantor for the lender. Anyone can get a private Sallie Mae loan if they do not qualify for federal student loan. The private loan is generally not subsidized. However in many cases many students/borrowers may find them with various loans and some of them with different interest rates. However then it is better to consolidate all these loans into a single Sallie Mae student loan which is more advantageous with a single interest rate and repayment terms/period.

Student Loan Consolidation through Sallie Mae Loans

In addition to providing assistance to borrowers to manage and repay their loans, Sallie Mae also offers Student loan consolidation. Consolidation is a simple way to bundle loans into a single consolidated loan. Sallie Mae consolidation program provides active assistance to put loans like home loan, property loan, student loan into a single loan with fixed interest rate and thus it enables someone to manage their loans more easily.

By consolidating a student loan a borrower has the added benefit of reducing the number of monthly payments and even reduces the total amount of money paid for the loans together. But if the loan is federal student loan the borrower has the ability to opt for a lower interest rate which is fixed and thus it significantly reduces the total repayment amount. Thus student loan consolidation is a convenient loan repayment option for anyone with other type of loans.


Thus Sallie Mae is a hugely popular student loan available which offer certain benefits over other types of student loans. However the student/borrower must research pros and cons of applying for Sallie Mae loans for himself before applying. Do consider the Student Loan Factors before applying for a student loan like Sallie Mae loan. Contact a Sallie Mae representative or consult the website for information to determine which type of student loan is best for you. International number of Sallie Mae is 012725543 in case if you want to contact them through telephone.

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