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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Saturday, May 13, 2006

Student Loans

If yuou watched 60 Minutes last Sunday you saw an expose on Sallie Mae. Sallie Mae was created as a government sponsered entity in 1972. From 1997-2004 they began privatizing, and this fact makes it an attractive stock to purchase because the loans are still guaranteed by the government even thought they are now private. The piece details some people who have not made their payments and now their college loans to Sallie Mae have doubled in just a few years.

When getting loans for college it is probably best to focus on governmental organizations that are Direct Loans. Going to other companies like Sallie Mae can cause serious financial problems for you if you are unable to pay back the loan immediately. Direct Loans are at better loan rates and somewhat more forgiving.

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