The Student Loan Marketing Association (SLMA), founded in 1972, was the group that significantly streamlined the process of getting a student loan to pay for college.
By guaranteeing student loans that were exchanged on the secondary market, the Student Loan Marketing Association (SLMA), a federally listed business, increased the accessibility of training loans.
Congress and Sallie Mae, a privately owned, profitable company, formed this organization. Sallie Mae was founded in 1972 as a secondary market to exchange student loans that were federally guaranteed and insured.
This Sallie Mae was a publicly traded American company that also offered consumer banking services. It started off as a government agency before changing to a private one.
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