is sallie mae considered a federal loan

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  • Are Sallie Mae student loans private or federal?

  • All Sallie Mae loans taken out since 2014 are private. The best way to determine if you have federal or private student loans is to check studentaid.gov. If you need to borrow money for college, exhaust federal student loans before taking out a private student loan.

  • How do I know if my Sallie Mae loan is private?

  • Key takeaways 1 All Sallie Mae loans taken out since 2014 are private. 2 The best way to determine if you have federal or private student loans is to check studentaid.gov. 3 If you need to borrow money for college, exhaust federal student loans before taking out a private student loan.

  • Is Sallie Mae a for-profit company?

  • Sallie Mae is a company that currently offers private student loans. But it has taken a few forms over the years. In 1972, Congress first created the Student Loan Marketing Association (SLMA) as a private, for-profit corporation.

  • When did Sallie Mae stop offering federal loans?

  • Sallie Mae stopped offering federal loans when the FFEL program ended in 2010, but continued to service federal loans though 2014. Since then, Sallie Mae no longer services federal loans and provides only private student loans.

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