Sallie Mae signifies the Student Loan Marketing Association (SLM Corporation). The Student Loan Marketing Association was created in 1972, but “Sally Mae” has been cited in print since at least February 1970. Sallie Mae is now the official name.
Similar nicknames include “Fannie Mae” (Federal National Mortgage Association), “Freddie Mac” (Federal Home Loan Mortgage Corporation), “Ginnie Mae” (Government National Mortgage Association), “Farmer Mac” (Federal Agricultural Mortgage Corporation) and “Sonny Mae” (State of New York Mortgage Agency).
Wikipedia: Sallie Mae
SLM Corporation (NYSE: SLM; commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation whose operations are originating, servicing and collecting on student loans. Managing more than $180.4 billion in debt for more than 10 million borrowers, the company primarily provided federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP). It now provides private student loans. Sallie Mae employs 8,000 individuals at offices nationwide.
(Oxford English Dictionary)
Sallie Mae, n.
Etymology: < the female forenames Sallie (also Sally) and Mae (also May), after the initial letters of Student Loan Marketing Association(see below), on the model of Fannie Mae n. Cf. slightly earlier Ginnie Mae n. and slightly later Freddie Mac n.
A proprietary name for: the Student Loan Marketing Association, a company that ensures funding for government-guaranteed loans by repackaging and selling debt to investors. Also: a security guaranteed by this company.
The company was established by the U.S. government in 1972, and became a privately owned, publicly traded company in 2004.
1970 Daily Rep. (Ontario, Calif.) 2 Feb. c3/1 Pressure is mounting for a new government corporation which would have access to US Treasury funds with which to buy student loans from private lenders to make more loans. The corporation would be called ‘Student Loan Marketing Assn’ or ‘Sally Mae’.
1972 N.Y. Times 30 Mar. 58/8 Congress is expected to pass legislation soon‥to create a secondary market for student loans. The new law would set up an entity to be called the Student Loan Marketing Association, or Sally May for short.
Google News Archive
2 February 1970, Sarasota (FL) Herald-Tribune, “Student Loan Program Still Expanding” by Sylvia Porter, pg. 13A, col. 4;
Now, pressure is mounting for a new government corporation which would have access to US Treasury funds with which to buy student loans from private lenders to make more loans. The corporation would be called ‘Student Loan Marketing Assn’ or ‘Sally Mae’.
Google News Archive
8 July 1970, Pittsburgh (PA) Press, “Firm Proposed To Aid Students,” pg. 16, col. 1:
The program would be the student loan marketing association, called “Sally Mae” for its resemblance to “Fannie Mae,” the Federal National Mortgage Association.
Google News Archive
27 May 1971, Wilmington (NC) Star-News, “More money for students” by Sylvia Porter, pg. 23, col. 5:
A Student Loan Marketing Assn. ("Sallie Mae") will be created as a new federal government corporation to eliminate the liquidity squeeze which has so endangered these student loans during tight money periods. Sallie Mae will sell its own government-guaranteed securities and raise money in the open market.
Word Mark SALLIE MAE
Goods and Services IC 036. US 102. G & S: Originating and Purchasing Educational Loans, Extending Credit to Educational and Financial Lenders for the Purpose of Funding Educational Loans. FIRST USE: 19740208. FIRST USE IN COMMERCE: 19740208
Mark Drawing Code (5) WORDS, LETTERS, AND/OR NUMBERS IN STYLIZED FORM
Serial Number 73345261
Filing Date January 11, 1982
Current Filing Basis 1A
Original Filing Basis 1A
Published for Opposition February 5, 1985
Registration Number 1337128
Registration Date May 21, 1985
Owner (REGISTRANT) Student Loan Marketing Association CORPORATION UNITED STATES 12061 Bluemont Way Reston VIRGINIA 20190
Assignment Recorded ASSIGNMENT RECORDED
Type of Mark SERVICE MARK
Affidavit Text SECT 15. SECT 8 (6-YR). SECTION 8(10-YR) 20050516.
Renewal 1ST RENEWAL 20050516
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New York City • Banking/Finance/Insurance • (2) Comments • Wednesday, July 13, 2011 • Permalink
I have used Sallie Mae in the past for some of my student loans and they actually have a lower interest rate than the two other companies I used during my grad school years. Sallie Mae was easy to deal with, made payments easy to make, and they were willing to loan me money to help cover my expenses when I studied abroad for a semester. If I decide to go for my PhD then I’ll most likely use Sallie Mae again.
Sallie May is good lending agency to arrange cash for education purpose. You can get affordable student loan just by submitting your loan request online and further by making comparison on available loan options.