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SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
Lumina Foundation is a conversion foundation created in mid-2000 as USA Group, Inc., which sold most of its operating assets to the Student Loan Marketing Association, Inc. (Sallie Mae). Proceeds from the sale established the USA Group Foundation with an endowment of $770M. The foundation was renamed Lumina Foundation for Education in February ...
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In 2014, the company split into two distinct entities, with Navient becoming the student loan group and assuming its liabilities while Sallie Mae became the consumer bank. The original company had ...
Sallie Mae is a company that currently offers private student loans but it has gone through several shifts. In 1972, Congress created the Student Loan Marketing Association (SLMA) as a private ...
Sallie Mae (NAS: SLM) is the nation's No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams ...
Navient Corporation is an American student loan servicer based in Wilmington, Delaware.Managing nearly $300 billion in student loans for more than 12 million debtors, the company was formed in 2014 by the split of Sallie Mae into two distinct entities: Sallie Mae Bank and Navient.
Commercial lenders (e.g. Sallie Mae; now Navient) would use their private capital to finance loans under the FFELP but received subsidies from the federal government. [1] These subsidies were used to maintain interest rates at the federally mandated levels, pay down fees associated with the loans and cover expenses associated with collection ...