Define: Nellie Mae

UK Accounting Glossary

Definition: Nellie Mae



Advertisement



Full Definition of Nellie Mae


Nellie Mae is a wholly-owned subsidiary of SLM Corporation, aka Sallie Mae.

Prior to 1999, Nellie Mae was an independent entity. Nellie Mae started as a non-profit agency in 1982. Nellie Mae makes education loans to graduate students, undergraduate students, and parents of students. Nellie Mae makes loans under both Federal and private loan programs. Examples of Federal student loans originated by Nellie Mae include Federal PLUS loans, EXCEL loans, and Federal Stafford loans. For the investor, Nellie Mae is perhaps less interesting than its parent company Sallie Mae. Much like Fannie Mae and Freddie Mac do in the mortgage business, Sallie Mae securitizes and sells to investors portfolios of student loans originated by Salle Mae and Nellie Mae.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/nellie-mae/
Modern Language Association (MLA):
Nellie Mae. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 03, 2020 https://payrollheaven.com/define/nellie-mae/.
Chicago Manual of Style (CMS):
Nellie Mae. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/nellie-mae/ (accessed: April 03, 2020).
American Psychological Association (APA):
Nellie Mae. PayrollHeaven.com. Retrieved April 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/nellie-mae/

Definition Sources


Definitions for Nellie Mae are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 7th February 2020.