Friday, March 20, 2009

Student Loans

Many companies that issue student loans don't require payment until after graduation. That is now changing. Sallie Mae, "the nation's largest private student lender", is now changing its policy so that students have to make payments on their loan while they are still in school. The article states, "The upside is that the cost of a private student loan will be cut by about 40 percent, said Jack Hewes, chief lending officer for Sallie Mae, which is based Reston, Va." Also, students will pay back their loans in a shorter amount of time.

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