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Sallie Mae was formed in 1973 as a government sponsored enterprise and the privatization process began in 1997. Sallie Mae's privatization phase out will be complete in 2006, when they will become a private enterprise.
Sallie Mae is the leading provider of educational funding in the United State. Sallie Mae provides federally guaranteed student loans that originate under the Federal Family Education Loan Program (FFELP). Sallie Mae also offers information to help assist students, parent and guidance counselors through the financial aid process.
Sallie Mae currently manages over 7 million student loans and has more than 9,000 employees in local offices across the nation. |
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