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Sallie Mae
Nickname for the Student Loan Marketing Association, which buys student loans from colleges, universities and other lenders and packages them into units to be sold to investors. Sallie Mae thus infuses the student-loan market with new money in much the same way that Ginnie Mae infuses the mortgage market with new money.
Self-amortizing loan
A loan is said to be self-amortizing when the payment amount is calculated such that there is no balance at the end of the loan period. Most fixed-rate mortgages are self-amortizing loans.