Private College Student Loan

Sallie Mae Students loans and them going under?

I was wondering what happens to my loans if Sallie Mae goes under (like it looks like they might). I have $150,000 debt to them for attending Michigan Tech and was wondering if I get off of the hook or how that works. Thanks!

Public Comments

1. wow i hope lol im like 2500 but still lol where did u find this out???
2. They aren't going under any time soon -- they will need to switch business areas around if they no longer handle federal loans. Even so, you will still owe them (or whoever buys their loans if they go under). Your federal loans will still be paid to the U.S. government.