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Sallie Mae

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Sallie Mae Corporation is a publicly held company. The company was established in 1972 as a government sponsored enterprise. At the present time Sallie Mae Corporation is headquartered in Reston, Virginia. The company specializes in education finance industry and provides different government guaranteed student loans under the Federal Family Education Loan Program, private student loans, consolidation student loans, K-12 loans, and college savings plans. Sallie Mae Corporation is the top student loan company. The company has hundreds of offices all over the United States.

Sallie Mae is listed on Fortune 500 and the Forbes Global 2000. Besides, the company sponsors a charitable organization that aims to increase access to higher education.

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Loans
A loan is a type of debt. A loan predetermines the redistribution of financial funds over a certain period of time, between the borrower and the lender. At first the borrower receives a certain amount of money from the lender. The borrowed sum is usually but not always paid back in regular installments, to the lender. As a rule, the service is offered at a cost, which is called an interest on the debt. Under the terms of the loan, a borrower may be subject to certain restrictions - loan covenants.

Loans are offered by all the financial institutions, like banks and financial services companies. They distinguish between secured and unsecured loans. A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan.

Unsecured loans are monetary loans which are not secured against the assets of the borrower. These may be available from financial institutions under many different pretences and marketing packages: credit card debts; personal loans; bank overdrafts; credit facilities or lines of credit; and corporate bonds. The interest rates offered for these different forms of loan may vary. These may or may not be regulated by law.

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