Home » Education and Reference » College and University

Sallie Mae - Know Your Student Loan Lender

Feb 26, 2008
Attending college is a smart move for a number of reasons. Of course, it is going to cost you to do so, but fret not. Sallie Mae is more than happy to loan you money to go to school to better yourself and your ultimate earnings potential.

Just how big is this student loan behemoth? It is huge. Over 10 million people have taken out student loans with it. The total amount borrowed? A stagging one hundred and thirty billion dollars. That's a lot of education!

The story of Sallie Mae is rather odd. Officially known as the Student Loan Marketing Association, the entity was originated by no less than the federal government to back and adminster federal student loan programs.

This was one government program that was an unmitigage success. One of the reasons the United States is a strong society is the large middle class. The efforts of this under the radar quasi-agency had a lot to do with that.

After two and half decades, a decision was made that would change Sallie Mae for ever. It was privatized. The transition from non-government agency took seven years. In 2004, it was complete and the stock of Sallie Mae was available to all.

As a publically traded company, the issue is no longer getting people into and through higher education. The bottom line is now the focus. This evolution has spawned serious criticism of the entity and how it conducts its business.

Just last year, there was a proposal to take Sallie Mae private. This would have put the company decisions behind closed doors. Criticism was immense and pressure was applied to the deal which ultimately broke down.

As Sallie Mae has focused on profits, it has become extremely aggressive about collecting on loans. The company will call the borrower, their family members and so on to force repayments. Such conduct is very controversial and possibly illegal.

Profits are all about brining the bacon home. To find the bacon, Sallie Mae has been pressuring colleges to run over information. This act has led to serious criticism. The company says it isn't doing it anymore, but time will tell.

Sallie Mae is a critical source for funding high education for millions of people. That being said, the company is no longer the benevolent government agency it used to be.
About the Author
Aazdak Alisimo writes about student loans for USStudentLoanCompanies.com.
Rating:
Please Rate:
(Average: Not rated)
Views: 284
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Accounting
    • Credit
    • Currency Trading
    • Debt Consolidation
    • Insurance
    • Investing
    • Leasing
    • Loans
    • Mortgage
    • Mutual Funds
    • Personal Finance
    • Stock Market
    • Structured Settlements
    • Taxes
    • Wealth Building
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources