Consolidating Student Loans Sallie Mae

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Consolidating Student Loans Sallie Mae

Sallie Mae, Inc., is a United States federally-chartered corporation that provides educational loans to students attending public and private colleges and universities. Sallie Mae was founded in 1985 and currently operates in many countries around the world. In 2017, it had total assets of $37 billion and over 5 million active borrowers.

Sallie Mae offers both federal and private student loans, including Perkins Loans (established in 1960), PLUS Loan Program (established in 1965), Stafford Loans (established in 1990), Federal Family Education Loan Programs (FFELP) (established in 1992), GradPLUS Loans (established in 2007), and Direct Subsidized and Unsubsidized Loans (established in 2012).

In 2011, Sallie Mae earned approximately $17 billion in revenues and paid out $14.5 billion in dividends. On May 31, 2013, Sallie Mae acquired National Collegiate Trust, which later became known as Navient Corporation. As of 2014, Sallie Mae reported net income of $1.9 billion on revenue of $22.8 billion.

Sallie Maes subsidiaries include Bank of America Corp., Borrowers First Credit Union, Citibank NA, Discover Financial Services, GE Money Bank, Green Dot, HSBC Consumer Finance USA LLC, ING Bank N.V., JPMorgan Chase & Co., KeyBank, Metabank, M&T Bank, Nationstar Mortgage, OneWest Bank FSB, PNC Bank, Regent Bank, SunTrust Bank, U.S. Bank NA, USAA Federal Savings Bank, Wells Fargo Bank NA, and Wachovia Corporation.

Consolidating Student Loans Sallie Mae

Consolidating Student Loans Sallie Mae

Consolidating Student Loans Sallie Mae

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