Sallie Mae Student Loans 6-4-25

Sallie Mae became a private company in 2004. The privatization process began in 1996 when Congress enacted the SLMA Reorganization Act. This act established the SLM Corporation, a holding company, and made Sallie Mae's GSE status its wholly-owned subsidiary. In late December 2004, SLMA dissolved, and the SLM Corporation (Sallie Mae) became a fully private-sector company without GSE status. 

https://www.google.com/search?q=what+year+did+sallie+mae+became+private 

Sallie Mae had approximately 2,995 employees as of May 2025, according to their LinkedIn page. Additionally, LeadIQ indicates Sallie Mae has around 3,000 employees located across 5 continents, including North America, Asia, and Europe. 

Sallie Mae's operating costs in 2025 are not directly available in the search results. However, the results do provide information about their loan products and financial performance. For example, Sallie Mae reported $108M in provisions for credit losses in Q4 2024, according to their website. They also reported 3.68% delinquencies as a percentage of loans in repayment, down from 3.90% in Q4 2023. Sallie Mae's student loans have variable APRs ranging from 4.37% to 14.71% and fixed APRs from 5.49% to 14.83%, according to their website https://www.salliemae.com/. 

The US Department of Education's budget for fiscal year 2025 is estimated at $82.4 billion, which is a $3.1 billion or 4.0 percent increase from the previous year. This budget proposal prioritizes funding for early childhood education, K-12 schools, and higher education. 

https://www.google.com/search?q=us+education+department+budget+2025

In March 2025, the U.S. Department of Education reduced its workforce by nearly half, resulting in a headcount of approximately 2,183 employees. This reduction followed the Trump administration's plan to dissolve the agency, which had previously employed around 4,133 workers. The cuts included both voluntary resignations and involuntary layoffs. 

https://www.google.com/search?q=us+education+department+headcount+2025

Sallie Mae was not directly moved from the U.S. Department of Education in 2025. Sallie Mae (now Aidvantage) was a private company that provided private student loans and loan servicing, but they have been largely separate from the federal government's student loan programs for several years. 

Elaboration:

Sallie Mae's Role: Sallie Mae was a major player in the student loan market, particularly in the early years of private student lending. However, in 2010, they stopped originating federal student loans and focused on private loans. 

Navient (Aidvantage): In 2014, Sallie Mae spun off its loan servicing operation into a separate company called Navient, which is now known as Aidvantage. This entity primarily services federal student loans on behalf of the Department of Education. 

Current Situation: Sallie Mae (now Aidvantage) is not a direct part of the U.S. Department of Education. They primarily serve as a servicer for federal loans, but they are also a private lender offering private student loans. 

Norb Leahy, Dunwoody GA Tea Party Leader