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tiffany_8_0_6 asked:
well i need to know if Sallie Mae is a government student loan because I have 2 weeks before i get my rebate check and they are suppose to take out money if you owe on a government student loan so i need to know if they will take money out if i owe money to Sallie Mae. So just answer with yes it is a government student loan company or no it is not and be truthful this is important thanx.
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Tags: Government Loan, Government Student Loan, Money, Rebate Check, Sallie Mae, Student Loan Company
September 4th, 2008 at 6:21 pm
Sallie Mae is an organization that participates in both federal and private education loans amongst other services.
update:
ok, I answered your question as you worded it and even with the additional details you still get the same answer. Sallie Mae offers both federal and private student loans, so providing information that Sallie Mae is your lender provides absolutely no indication of whether or not your particular loan is a federal or private loan. IF it IS a federal loan, then yes, your rebate may be withheld to pay off part of your debt, either partially or in full. IF it is a private loan, then the same would not be true. It is quite disturbing that you took out a loan at all without having any idea what type of loan it is. It would be wise to be aware of ALL the details regarding ANY loan you might apply for in the future–and to keep that paperwork handy for referencing.
With all that said, the question still remains: is your loan a federal loan (Stafford) or a private loan? Call Sallie Mae to find out or, if you still have your promissory note, read it and you will find out.
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