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Sallie Mae hits record for single day of loan disbursement, while students having problems paying back may consider debt cons
01/11/2010
A private loan company that originates federal student loans recently achieved a single-day record for disbursements.
Sallie Mae recent reported that distributed 251,415 loans in one day in January, which may be welcomed news for the many college students who are making their return to campus after the winter holiday break.
Renee Mang, senior vice president for loan originations for the firm, said the company takes "great pride" in being to serve such a large number of people. Every year, the company works with almost 4 million students and families.
"Students count on this money to be delivered on time and with the counseling they need to succeed, and they know they can rely on us," Mang said.
Though these loans aid many people in continuing their education, the current economic situation may make it difficult for some to pay back what they owe once they get out of school. As a result, one thing they may consider pursuing is debt consolidation for their student loans.
However, those who do so should keep in mind that privately- and government-originated loans have to be consolidated separately.
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