Tuesday, January 5, 2010

Sallie Mae Helps Students Pay for Spring Semester in Record Loan Disbursement Day

(BUSINESS WIRE)--As students welcome the new year and prepare to return to college, the Sallie Mae loan originations team is hard at work making sure that students have the funds they need to fulfill their education dreams. Yesterday, Sallie Mae disbursed 251,415 loans to students and families, a company record.

“We don’t want students to stress over how long it takes to get their loans”

“We take great pride in serving the needs of so many students and their families,” said Renee Mang, senior vice president, loan originations. “Students count on this money to be delivered on time and with the counseling they need to succeed, and they know they can rely on us.”

Sallie Mae is the largest private sector originator of federal student loans, serving nearly 4 million students and families annually. The company’s 600-person loan originations team is based primarily in Panama City, Fla., with supporting functions located in multiple locations across the country.

“We don’t want students to stress over how long it takes to get their loans,” said Jo Branda, disbursements supervisor, Sallie Mae Florida. “It is always a pleasure to be able to help our student customers. This is an exciting time for them, and it is exciting for us to help them.”

Separately, Congress is considering structural changes to the federal student loan programs. The company supports the President’s call for reform and continues to advocate for reform that would have service providers compete to provide quality service to students not only in loan servicing, but also in loan origination, and would enhance default prevention success by requiring servicers to share in the risk of loan default.

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