Sallie Mae split into two companies: The Real Deal

Published 05/02 2014 04:01PM

Updated 05/02 2014 05:23PM

Syracuse (WSYR-TV) - If you have a student loan through Sallie Mae, you'll see some changes soon and we have The Real Deal.

The Federal loan provider has split into two independent companies.

A new company, Navient, will take over as the loan servicer, assuming all of the responsibilities previously performed by Sallie Mae.

If you have a Sallie Mae loan, you should have received a post card in the mail with some information on how the change will impact you.

The bottom line is that your loan will not change.

The terms and conditions of your loan, including your interest rate and repayment plan, will also stay the same.

The biggest difference you will notice is the name change.

If you access your account or pay online, you'll have to go to a new website. Those details are still being worked out.

Keep your eye out for more information from Sallie Mae in the next few months on when these changes will roll out.

They are set to take effect in the fall.

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