Nellie Mae

AAA

DEFINITION of 'Nellie Mae'

A non-profit organization that provides education loans in the United States. Nellie Mae was founded in Massachusetts and is the largest non-profit provider of student loans in the United States, helping student across the country pay for their education. It has been a wholly owned subsidiary of SLM Corporation, known as Sallie Mae, since 1999.


Nellie Mae stands for New England Education Loan Marketing Corporation.

INVESTOPEDIA EXPLAINS 'Nellie Mae'

Nellie Mae was created in order to purchase student loans, securitizing them to be sold off to investors. Student loans were guaranteed by the Federal Family Education Loan Program (FFELP), with further financial backing by the U.S. Department of Education (DOE).

RELATED TERMS
  1. Education Loan

    Money borrowed to finance education or school related expenses. ...
  2. Tuition Insurance

    A type of insurance that allows families to recoup some or all ...
  3. Fannie Mae - Federal National Mortgage ...

    A government-sponsored enterprise (GSE) that was created in 1938 ...
  4. Sallie Mae - Student Loan Marketing ...

    A publicly traded company that is the largest provider of educational ...
  5. Ginnie Mae - Government National ...

    A U.S. government corporation within the U.S. Department of Housing ...
  6. Freddie Mac - Federal Home Loan ...

    A stockholder-owned, government-sponsored enterprise (GSE) chartered ...
Related Articles
  1. Credit & Loans

    College Loans: Private Vs. Federal

    Not all student loans are the same. Know what you're getting into before signing on the dotted line.
  2. Retirement

    Student Loan Debt: Is Consolidation The Answer?

    Consolidating your student loans offers convenience, but there are drawbacks.
  3. Taxes

    Agency Bonds: Limited Risk And Higher Return

    Discover these safe alternatives to Treasury bonds.
  4. Budgeting

    Studying In The United States: New York City

    Advice for international students on how to budget if you want to go to college in New York City.
  5. Budgeting

    Studying in the United States: Boston

    With more colleges than most cities, Boston is a mecca for students from around the world. Here's what to budget to study there.
  6. Budgeting

    Studying in the United States: Chicago

    Would you enjoy going to college in Chicago? Here's what it's like to study and live in the Windy City.
  7. Credit & Loans

    Is An MIT Education Worth the Tuition?

    An education from MIT may look pricey on the surface, but the earning potential of graduates means it's usually a very solid investment.
  8. Investing Basics

    Top Financial Planning Colleges: A Primer

    An overview of the top colleges for financial planners and advisors.
  9. Personal Finance

    First Resume? Tips For High School Students

    Here's how to shape your school projects, babysitting and any other jobs you've had into a resume that will get you hired.
  10. Savings

    What Will It Cost To Study Abroad in Florence?

    The career payoffs for study abroad can be huge, but can you afford it? Here's a rundown of what you'll need to budget for a semester in Florence.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center