Sallie Mae will continue offering Student Consolidation Loans

According to theStreet.com, the SLM Corp, also know as Sallie Mae, one of the countries largest student lenders, will continue participating in the Federal student loan consolidation program. In April, the company announced that difficulties with the credit markets and federal legislation passed that cut lender subsidies made it impossible to continue profitably. In fact, the SallieMae website still says that they are no longer participating in the federal student consolidation program, but apparently the Ensuring Continued Access to Student Loans Act of 2008 passed recently and signed into law by President Bush contained enough incentives for SallieMae to continue.

At the present time, SallieMae is the only one of the top ten consolidation writers still participating in the Federal program.

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