Sallie Mae Student Loan Consolidation is one such company providing facilities to the student to consolidate their various loans to one single and by increasing the time limit of the repayment and by decreasing the monthly amount to be given to the bank. Established in 1972 Sallie Mae was a federal sponsored to enhance public sector’s involvement in higher education by serving as a warehousing entity for the student loan. This consolidating company provides an array of many varieties of services to the loan borrower from debt management to finding student loan.

Student loan is boon for those students who are financially not that sound to carry out their further academic career. Student loan in a whole make it easy for those students to fulfill their dream to study in a recognized college without any fear of finance and funds for their tuitions, canteens, books, hostel etc. All these expenses are carried out by Bank till you study...helping you to build your better future and career. Loan borrower had to repay after his/her studies are over and time limit is 6 months after getting your degree and 12 months after getting a job.

You do your major in debt and it is very difficult to pay back all the loans at a single time with a new job when salary is not enough for all loan repayments...Then there are two options left to repay your loan...Either you defer your loan amount or Consolidate it. Consolidation is the last way out as after consolidation it is really important for you to pay your amount on time, so it is the last and final call of loan repayment and Sallie Mae Student Loan Consolidation is one of such ways.

Loan aspirer is eligible to get the loan consolidation facility when

• He/she is a legal US Citizen and resident.
• 21 years of age.
• His/her college should be certified to the department of Education of United States.
• Should have an authorized legal bank account.
• Student should have at least $5,000 in student loan.
• He/she should have a good credit history with a good credit rating.
• Consolidation is done when you have already graduated or will be graduating from a postsecondary program.

If you fulfill all the above criteria then you are eligible to get the consolidation facility from Sallie Mae whether you have federal loans or private loans to consolidate. Time for repayment extends according to the amount taken as the student loan but as a borrower you are responsible for the following:-

• Timely repayment of loan amount.
• Should notify to the loan consolidator about any change of your address or name.
• Should choose a convenient loan repayment option including level payments, graduate, extended or even an income-sensitive plan...to make it easy for you to repay.

Loan consolidation simplifies your life from bank loan debt but before you opt to consolidate your loan amount take a guidance and advice from your account manager because consolidation is taken as the last and final call for loan repayment modes as it allows for loan repayment in long terms making you pay double of the loan amount taken for a extended period of up to ...30 years.