Sallie Mae®, the nation's leading provider of student loans and administrator of college savings plans, has helped millions of Americans achieve their dream of a higher education. The company primarily provides federal and private student loans for undergraduate and graduate students and their parents.
In addition, Sallie Mae offers comprehensive information and resources to assist students, parents, and guidance professionals with the financial aid process. Sallie Mae owns or manages student loans for 10 million customers and through its Upromise affiliates, the company also manages more than $17.5 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 10 million members and $450 million in member rewards. Sallie Mae employs approximately 8,000 individuals at offices nationwide.Sallie Mae was originally created in 1972 as a government-sponsored entity (GSE). The company began privatizing its operations in 1997, a process it completed at the end of 2004 when the company terminated its ties to the federal government.