Student Loan Marketing Association

American  

noun

1. a U.S. government–chartered private company whose chief function is to make available to qualified students low-cost loans backed by government agencies through lending institutions. SLMA

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Example Sentences

The high load of student debt stems in part from the privatization of Sallie Mae, the Student Loan Marketing Association — the government-sponsored agency created in 1972 to provide low-cost loans to students.

From Washington Times

Richard Nixon sped up this shift in 1972 when he created the Student Loan Marketing Association, a government-sponsored entity best known by its maternal nickname, Sallie Mae.

From Salon

Automotive loan maker Ally Financial Inc., paper-product company Georgia Pacific Corp. and the Student Loan Marketing Association, better known as Sallie Mae, are among the companies in which the bond fund invests.

From The Wall Street Journal

No programs have been growing faster than so-called Government-Sponsored Enterprises, which include such entities as the Federal National Mortgage Association and the Student Loan Marketing Association.

From Time Magazine Archive