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Sallie Mae Announces It Is Dropping Student Loan Consolidation’s

Student loan consolidation market just got a hair-cut, as Sallie Mae
the countries largest student loan lender announced it was getting
out of the student loan consolidation business. The move is sure to
hit millions of college graduates in 2008.

Sallie Mae had already announced in January, that it would be cut-
ting back on making students loans, taking a much harder look at
the students ability to pay back the loan.

Bank of America announced last week that it was also stopping its
student loan lending, joining 46 other feaderal student lenders who
have also ended their exposure to student loans.

With the sky-rocketing cost of college tuition and the credit crisis
hitting students in 2008,  many students may have to wait untill
the business cycle corrects or until Uncle Sam come to the rescue.

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