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.

  • Does Sallie Mae qualify for loan forgiveness?

  • Those federal student loans are eligible for loan forgiveness. Any private student loan that Sallie Mae still has does not qualify for loan forgiveness. But there is an exception. More on that below.

  • 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.

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