What is Sallie Mae?
The Student Loan Marketing Association, or Sallie Mae, buys student loans that lenders have made, pools these loans, and then sells shares in the pools to investors. By selling their loans to Sallie Mae, lenders get a lump-sum which they can use to make new loans to other students. Sallie Mae is a publicly-traded company; its stock is traded on the New York Stock Exchange under the symbol SLM. You can learn more about the organization as well as college aid in general by visiting the Sallie Mae Web site.
