What is Sallie Mae? Is Sallie Mae related to the federal government or the other "Maes"?

Sallie Mae is the nation's leading provider of education funding. The company was originally established as the Student Loan Marketing Association, a government-sponsored enterprise (GSE), but began to privatize in 1997. The GSE was phased out in the first quarter of 2005, and Sallie Mae is fully privatized.

Sallie Mae is the parent company of Nellie Mae, which also funds student loans. Otherwise, the company is not related to any other "Maes." For more information about Sallie Mae and its structure, visit About Us.

What is the current interest rate on Federal Stafford loans?

Interest rates on federal education loans are set by Congress and vary annually based on the 91-day Treasury Bill, plus a margin. View the current Federal Stafford loan interest rates.

What is the average repayment term for student-loan borrowers?

The average repayment term for student-loan borrowers is seven years.

How big is the student loan industry? What is Sallie Mae's market share?

Federal student loans currently cover approximately 60% of all student aid, compared to 40% in 1980, and 30% in 1970 (Source: The College Board). For Fiscal Year 2000, estimated federal student loans outstanding were $202.9 billion. Sallie Mae owns or manages student loans for more than 7 million borrowers, which account for roughly one-third of these outstanding loans. For more data on student loans, see our Higher Education Statistics.