Many students and parents in the United States are somewhat familiar with Sallie Mae Bank. Sallie Mae has been around for over 30 years and has long been a major supplier of student loan money for college students. This company has a long history of helping young men and women in the country get the money that they need for school and living expenses. Sallie Mae is not just a student loan company though, and many people have come to see it as only the place for their student loans. Sallie Mae bank accounts have been a more recent development for the company, and Sallie Mae banking services have become more popular in recent years.
In 1972, Sallie Mae started up as a provider for government-insured student loans to help people make their way through college. This remained the company's primary purpose until 1997 when it began to privatize its operations. Sallie Mae fully cut its ties to the federal government in 2004 and has been updating their operations since then to make a more full-service bank rather than student loan marketing as the sole source of business. Sallie Mae has had an interesting history in the recent years since the mortgage crisis in 2007.
Sallie Mae had a history of providing the federally-insured student loans to students across the country and was looking to cease to be a publicly-traded company with a deal from Friedman Fleischer & Lowe as well as JPMorgan Chase and Bank of America. Sallie Mae is on the Fortune 500 list and offers a wide range of services. Banking services now offered by Sallie Mae include student loans, debt management and business products. Sallie Mae bank accounts also have the option of money market accounts, savings accounts and high yield savings accounts. Sallie Mae offers student loans as well as UPromise funding for students in the United States. They are FDIC-insured to protect the money and investments of their clients.
Sallie Mae is still a leading provider of student loan funding and provides money for students all over the country. Sallie Mae manages nearly $200 billion in debt from borrowers including student loans both federal and private as well as business loans. Sallie Mae offers a wide range of services for their clients as well as flexible repayment plans on their student loan repayments. Sallie Mae has many years of experience providing minimal interest rates on student loans as well as high interest rates on certain types of savings accounts. Banking with Sallie Mae has benefits that are not found with other banks and corporations. Sallie Mae is dedicated to providing an array of banking services and the best accounts available.