Consolidating school loans sallie mae

17 Mar

Currently, it is a government sponsored enterprise whose main purpose is to ensure the availability of money for mortgage lenders so that affordable home ownership is possible for as many people as possible.

Only mortgage companies are supported by it; home loans are not offered by Fannie Mae.

Fannie Mae was chartered in 1934 as an FHA insured mortgage organization.

It expanded into also including VA-backed mortgages after World War II.

Most people confuse it with Sallie Mae which provides federally insured student loans under the Federal Family Education Loan Program (FFELP).

Both are completely unrelated because the former deals only with house mortgages and the latter only with student loans.

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The first option you should explore is the federally administered student loans.

Using a consolidation loan, you can combine the loans into a singular loan amount, interest rate and payment.

This process usually lowers your overall monthly payment.

Student loans are also not offered by this enterprise.

Fannie Mae Student Loans Fannie Mae does not offer any kind of student loans.