Since this site is real young, I thought I would write some posts about the basics.
If your research on college financial aid has just begun, you need to know about Sallie Mae. They are "the" largest college student loan company in the nation. Over 9 million people have loans with them. For a long time, Sallie Mae was a government initiative but now they are a private company with a prominent New York Stock Exchange listing (SLM).
The company has both federal and private loan products.
Sallie Mae also runs a very popular college advice site at CollegeAnswer.com
I've heard their customer service is poor. Still, they have a wealth of on-line information that can help you make decision.
If you're feeling overwhelmed by it all, Sallie Mae How to Pay for College: A Practical Guide for Families is a great reference book that covers all the basics you need.
Tuesday, October 03, 2006
Sallie Mae Student Loans
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1 comments:
Sallie Mae is so tempting to college students because it's quick and easy to get a loan without a co-signer. BE CAREFUL! You may think you are applying for a federal loan, and then end up with private loans. Once you are stuck with Sallie Mae private loans, it is near impossible to consolidate them. Even Sallie Mae won't consolidate them without a co-signer. My advise: stay away from sallie mae!
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