Question

2. In 1972, what association made borrowing money to attend college
much easier than it had been?
The Student Loan Marketing Association (SLMA)
The Student Loan Approval Association (SLAA)
The Federal Student Approval Association (FSAA)
The Student Federal Funding Association (SFFA)

Answer 1

Option A is the correct choice which can be defined as follows:

• A federally-listed company that enhances the availability of training loans by guaranteeing student loans traded in the secondary market.
• It was founded by Congress and a public-owned profit-making firm, better known as Sallie Mae.
• In 1972, Sallie Mae was established as a secondary market to swap student guaranteed federally insured loans.

The wrong choice can be defined as follows:

• The SLAA is wrong since student debt helps you repay those fees & aid you with living costs throughout your education.
• The FSAA is wrong since these organizations offer grants, work, and mortgages to college or trade school students.
• The SFFA is wrong as these are the surplus assets placed in the local Federal Reserve banks by private banks.

So, the correct choice is "Option A".

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