By 2004 the company cut all ties with the Federal government, and today Sallie Mae is a publicly held, private sector financial institution.
In addition to their extensive in-house services, Sallie Mae also acts as administrators for their client’s Federal student loans.
College students will find that Sallie Mae can address all of their education related financial needs.
Like all private lenders, Sallie Mae’s borrowing limits, interest rates and repayment plans are contingent on the borrower’s credit history.
The Direct Consolidation Loan program is offered by the U. Department of Education to federal student loan borrowers.
The Direct Consolidation Loan program allows multiple eligible loans to be consolidated into a single loan, which is then serviced by the servicer of your choosing (of which Nelnet is one).
There are a number of factors to consider before you decide if consolidation is the best choice for you.
After your new Direct Consolidation Loan is complete, you may still add more eligible loans to your existing consolidation.
If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).
If you choose Nelnet to originate and service your Direct Consolidation Loan, you may request to add other eligible loans to it by completing the Request to Add Loans Form and send it to Nelnet via email Direct Loan [email protected], fax (402.858.3929), or mail to: Nelnet P.