Are Sallie Mae loans private or federal?
You won’t find Sallie Mae on any federal student loan servicer list since we only service private student loans. But we’re here to assist with questions about your Sallie Mae private student loan, so if you have questions, call us at 855-429-9755 .
Will Sallie Mae student loans be forgiven?
Sallie Mae and other private student loans can’t be forgiven. In fact, there are actually no official student loan forgiveness programs for any private student loan company. Federal student loan borrowers can use the Public Service Loan Forgiveness or Teacher Loan Forgiveness programs to wipe away their debt.
Is Sallie Mae owned by the government?
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking….Sallie Mae.
| Trade name | Sallie Mae |
|---|---|
| Type | Public company Corporation formerly Government-sponsored enterprise |
| Traded as | Nasdaq: SLM S&P 400 Component |
Is Sallie Mae A unsubsidized loan?
This increases your total federal loan cost. Direct PLUS Loans are unsubsidized credit-based federal loans for parents of dependent students and graduate/professional students.
What is the maximum unsubsidized student loan?
The maximum amount you can borrow each academic year in Direct Unsubsidized Loans ranges from $5,500 to $12,500 for undergraduates, depending on your year in school and your dependency status. Direct Unsubsidized Loans have an annual limit of $20,500 for graduate or professional students.
Should I get a subsidized or unsubsidized loan?
Anyone can borrow unsubsidized federal loans, but those who qualify for the subsidized version will save more money in interest. When choosing a federal student loan to pay for college, the type of loan you take out — either subsidized or unsubsidized — will affect how much you owe after graduation.
How many years can I get student loans?
There is no time limit on how long a borrower may receive Direct Unsubsidized Loans or Direct PLUS Loans. However, annual and aggregate limits for Direct Unsubsidized Loans do apply. Direct Unsubsidized Loans are available for both undergraduate and graduate or professional degree students.