Sallie Mae Student Loans Knowledge Base
Any way to reduce payments on Sallie Mae student loans? I have a friend who took out about $80,000 in private loans from Sallie Mae. She did not understand at the time that these loans would have an extremely high interest rate - it is now at about 18%, which means they are asking for $3,000 per month! She has been deferring her payments for the last year because she does not have enough income to pay this amount. Is there any way she can reduce this payment? Has anyone sued these guys for fraud? It seems like such a scam. Thanks in advance.
How can I negotiate my sallie mae student loans? I would like to pay off the entire loan at once, but its a large amount. I have been making monthly payments for the past 9 years and interest is still being added to the original loan amount. My total loan is now $80,000. Is there anyway I can negotiate with sallie mae to see if they except $40,000 or $ 50,000 as full and final payment?
Anyone know anything about Sallie Mae student loans? I just filled out an application with Sallie Mae. I have one charge off on my credit in the amount of $300, but my cosigner has good credit.. his score is about 703. Im just nervous I won't get the loan what do you think my chances are?
consolidating 160k private sallie mae student loans? I borrowed a small fraction of 160k and was shocked when I realized I have to pay back 3 times what I borrowed. My mom is the cosigner so it's not like I can just default. I hear sallie mae is bad at letting people consolidate loans. I'm hoping that someone has had this experience and can tell me what I can do to lessen the blow. I can't afford my monthly payments. Yohata, you have been reported for spamming.
Sallie Mae Loan student loans.. > I've been trying to look for student loans that best suits me. I'm in need of tuition money for next month and everyone seems to suggest sallie mae. I've noticed that a lot of the online applications ask employment info. I have been a full time student all my life and never worked because my mother wanted me to prioritize education. I really want to help my mom out and not have to pay so much for my tuition so hence the reason why I am applying for a loan. I can't seem to move on in the application without putting any employment information. I've researched here on yahoo answers and people say I don't need a job history but I still can't finish the application without it. Please help I am kind of new to this loan thing..just doing this to help my mom out. Thanks in advance and I am also not eligible for financial aid either for those who will suggest that.
Any lenders that consolidate 5 different Sallie Mae student loans and a fixed rate 30yr loan on my condo? I would like to consolidate 5 different Sallie Mae student loans and a fixed rate 30yr loan on my condo INTO one 5yr loan. The intention is to get a decent rate and reduce overall interest paid by making larger payments for 60 months. I've ran the numbers and can afford the larger payments. I have more than enough home equity to finance the loan. A HELOC seems advantageous since the interest rate is fixed and not amortized and would help if I could pay the loan off early. But I'm not sure how high this interest rate would be compared to a typical amortized loan over 60 months. Does anyone know of a reputable lending institution that would allow this? Or does anyone have any other advice to accelerate these loans (possibly just make additional principal payments and leave the loans as they are??) I'm finding that many lending houses offer a minimum of 10yr terms. I did contact Countrywide. They do this type of consolidation, but not as low as 5yr terms. Their lowest tenure is 10yrs. I prefer to get all of this paid off in 5yrs instead of 10.
Does Sallie Mae for student loans make the check to you or the school? I was wondering because I needed to take about about 500 extra since im taking seven classes and the price of books is going to be extremly expensive. My parents are not helping me out so I need to come up the money on my own. Normally I go with astrive but they have been down for months now.
consolidating private Sallie Mae student signature loans? My federal loans are all consolidated at about 3.5% ($27,000) with a minimum payment of about $150. This is ok, and i can handle it. what i am concerced about are my sallie mae student signature loans, they also total about $27,000. they were at about 10% interest. My parents co-signed for these ones. They consolidated the signatures loans into a line of credet on their house, but the interest rate is stil 8%! That is making my min payments more than $250 and all of it is going to interest! is there any way to get this interest and payment down to what is similair to my federal loans of the same amount? aprox. 3%? what is the best way to go about doing this? did i miss out on the best consolidating because my parents went a head and took out a line of credit? please help. IM GOING BROKE!!!!
Can I consolidate my sallie mae loans after repayment begins? I have sallie mae private student loans that go into repayment at the end of this month..does anyone know if I'll be able to consolidate after repayment begins or do I have to do it before? My credit score will significantly increase next month so it would be great if I could pay the loans for a couple months and then consolidate for a lower monthly payment/interest rate. I can't seem to find this information on their website. All help is greatly appreciated. Thanks!
Do you think Sallie Mae private student loans are predatory? It seems to me there is something awfully slimy about Sallie Mae's private student loan business, but I'm open to new ideas about it... afterall noone twists students arms to get the loans...hehehe, its not like a college education is 'required' to get a good job anymore (sarcasm).
Advice about Sallie Mae private student loans? I've been looking into the possibility of borrowing a private Tuition Answer loan from Sallie Mae. The interest is pretty high, but it is my only option to have living expenses so I can make it through nursing school (my federal loans just cover tuition/books). I need help understanding these little other fees they mention ...like supplemental (i believe that's what it said) at 3% and origination. Does anyone have advice for me, about this type or similar type, of loan and little add ons I need to be aware of the could get costly?
I took out a Sallie Mae Student Loan for more than my tuition? I recently took out a Sallie Mae student loan to cover my tuition of $18,000 dollars. I took out an extra $4,000 for personal expenses during the year. What happens after they send my school the 18k for tuition? Do I 1. Get a check for the extra? 2. If so, is it from the school, or from sallie mae? 3. Or are they going to give the extra back to Sallie Mae and have it decreased from my loan? I need the damn money and I am paying it back anyway after graduation soo... What will happen? Dont say "Contact your financial aid office"...
STUDENT LOANS: Consolidating Fed. Loans with Sallie Mae Loans? I am currently paying too much for student loans! I just graduated college about a year ago and consolidated my federal student loans (subsudized and unsubsidized) with Brazos (referred by AES). What I would like to do is consolidate my fed. student loans with my student loan I received from Sallie Mae so that I only have one payment to make per month. Does anybody know of any companies that consolidate not only my Stafford loans but also my private loans? Even better would be a lower rate than I am paying now, but any advice will help!
move my sallie mae student loan to somewhere else.? I'm having problem with Sallie Mae and their customer service. They are never updated and continously making errors and just makes me nervous because of their lack of knowledge. Where can I move my sallie mae student loan to? All the payment so far has been paid on time and everything is current but can not trust sallie mae anymore. Help~
sallie mae for student loans? i was just wondering if someone knows how sallie mae distributes their funds for the signature tuition loan for community colleges? do they send the funds to the college of your choice or do they send a check directly to you?
Sallie Mae Student Loan Advice? I am in sort of a problem. I originally started attending school at a college and had my loans deferred until I graduated. I switched schools to a school that was "authorized" or whatever to let student use sallie mae. This school I am going to IS a Sallie Mae school. So, when I took out the loan for that school I started getting bills for repayment. I am still a student, yet, since this school uses the career training loan, I guess the loans for my other school can't be deffered for whatever reason. Now I am stuck paying the loans while I am still in school. I figured that since Sallie Mae offered loans for this school, I would still be in deferment. NOPE not the way it works I guess. They want me to pay back my other loans right now and make $10 monthly payments on this "career training loan", so I was wondering If I somehow reach a different monthly payment plan for my old loans, can I still borrow to finish this school? I do make my payments and I am not ditching them.
Sallie Mae Student Loan Trouble Because of the Economy? I am completing a graduate plus loan and have noticed Sallie Mae stocks have been plummeting as well as the federal government bailing them out (IndyMac recently was seized by the feds). I spoke with SM this morning and they said I was good to take out a loan. I know the loans are federally regulated somehow, can you imagine something going wrong in regards to student loans soon? Actually im not worried because there has been talk of getting student loans through the federal government. It would be bad to scrape students that contribute to Americas economic prosperity, I don't think the government would consciously deeducate its workers; mortgages yes.
I have a forbearance on my Sallie Mae student loan, but my credit report is still showing late payments. Why? I had trouble making payments on my student loan and have missed a few months payments..so I requested a forbearance. A forbearance allows me more time to pay correct? So, why does my Trans Union credit report still show all of my past delinquent dates? If everything is current and up to date why would it still show this. Has the information just not been updated or do I have to receive documentation from Sallie Mae proving that I am current? I've been told that since it's a federal government loan they have the ability to report a clean record to the credit companies if I make good. Also, even though I am current on my payments, will these past delinquency dates (if they do stick) affect my chances of getting approved for an apartment? Mind you I have two credit cards and a bank loan which I have never been late so the rest of my report is immaculate aside from this issue with my student loan.
HELP, Sallie Mae loans? I was just approved for a Sallie Mae student signature loan and in the email it states that they will be working with my financial aid office for disbursment. I thought the loan was to be disbursed to me privately since its not a federal staffod loan, but private. Anyone out here who can help, please let me know. Thanks
How is it possible to deduct more than just interest on student loans? I have 160k students Sallie Mae loans. I know I can deduct the interest, but how could one deduct the entire paid off loans? Could one do it through an LLC as an education expense, or perhaps pay cash for a piece of property, then take a loan against the property to pay off the loan? How could I possibly deduct the entire loan?
Sallie Mae Student Loans? I won't have to start paying my loans until I graduate, but I happen to have conscription waiting for me after as well. Can I delay my Loan payments due to military service if I took out a private loan?
sallie mae student loans? I have no qualified co-signor and I have not established credit yet. My bill for my spring term must be paid by Jan. 8th. What can I do?
sallie mae student loan question? is it possible to get a student loan if i've had a couple late payments in last 2 years on my previous student if i enroll in college again?
Should I and how do I consolidate my student loans? I have several Sallie Mae Signature Student Loans out, and I'm supposed to begin repayment in late November. I know nothing about finances, but I've heard that if I consolidate my student loans, it can lower monthly payments, and it puts them at a fixed interest rate. Is this right? How do I go about getting my Sallie Mae loans consolidated? Is it hard to qualify for it? Also...do I have to have full-time employment before I consolidate? Lastly, has anyone ever heard about student loan interest being tax deductible?
What is a better way to handle Sallie Mae Student Loan? My sister got a loan from Sallie mae and did not look into her options fully. She just went with Sallie mae because that's what the school recommended..(she's very naive...) and our parents co-signed for her.. Now that she is graduated she starting to pay them back and she's on 10 year payment plan and is paying $600 a month. She has problems getting sallie mae to fix their error after them admitting error and promising to getting update but never does. I ended up getting involved because her payments are always up to date but the sallie mae reps keeps on getting it messed up and never updates. Now i we signed up to pay on-line so that i can document all their mistake but it happened too many times. The support at Sallie mae is horrible and now i just feel like I can't trust or believe anything they do. My question is, I know their agressive and won't let their loans move to different company.. We really want to move it and pay it off somewhere else because their shady, what can we do?
sallie mae student loans? i would like to know if a loan that was taken out in a parents name can be changed to the students name as the parent is now 72yrs old and no longer working, and what will happen when this parent is deceased before the loan is paid off. This was possibley a parent plus loan, it was taken out in about 1990 or there about.
If student loans through Sallie Mae go into default? and are now with a collection agency are they able to be put into a bankrupcy??? I know that if with the original lender they are not able to be but just need some info on if the collection agencies have any different effect on this subject
Student loan through sallie mae and want to leave them!? I currently have a student loan of approx $18,100, and a student loan of $2,200 with Direct loans. I desperately want to leave Sallie Mae!! How do I go about transferring a loan, or anything like that?! It isn't that i cant make my payments with them, I just want to get away from them as fast as I possibly can! HELP!
Is it possible to negotiate a student loan with sallie mae? I had my student loan down to $7,500 but its back up at $8,600 is it possible to negotiate this ? or does anyone recommend getting a different loan and paying this off? what type of credit card is recommended to start fixing my mid fico of 584? and i taught i owed to more people but that did not show on my report? also i had cingular settle with me but it still shows on my report for the other half they had settled for?
Flight School might be going bankrupt with my Sallie Mae Student Loaned Money. Sallie Mae unwilling to help.? I enrolled in a Flight School last year and took out a 25k loan to cover my tuition. Sallie Mae disbursed the money directly to the school within a week. After several weeks of delays in getting of the ground because of planes and instructor shortages I realized that I wanted to withdraw from this particular flight school and go elsewhere so I asked to have my loaned money returned to Sallie Mae. After several months of contacting the school and Sallie Mae, Better Business Bureau, Attorneys Generals Office I have not yet have the money returned to Sallie Mae and continue making payments. Looks like the school might be going out of business since I cant get a hold of anyone there and no one ever returns my phone calls. Anyone out there please let me know what are if any measures can be taken to get the money back or if Sallie Mae will go after myself or the school if I default on the Loan since I dont want to make a 25k donation to school owners vacation fund. Thank you for responses.
Advice about Sallie Mae private student loans? I've been looking into the possibility of borrowing a private Tuition Answer loan from Sallie Mae. The interest is pretty high, but it is my only option to have living expenses so I can make it through nursing school (my federal loans just cover tuition/books). I need help understanding these little other fees they mention ...like supplemental (i believe that's what it said) at 3% and origination. Does anyone have advice for me, about this type or similar type, of loan and little add ons I need to be aware of the could get costly? I know this isn't exactly a political question, but I figured there would be some educated people in here who might know. Couldn't get a response in financial aid...
Can Student Loans Like Sallie Mae Ruin Your Life? I have to take out $75,000 from Sallie Mae. Can this truly ruin my life. I have heard so many horror stories about Sallie Mae. I'm sick of it!!! I hate it when people have to live in fear because of this. Can this truly ruin my life!? I plan to major in business. Not like some people that major in something that doesn't lead to a successful career. How much a month can they charge? With the amount i have right now? Thanks, I hope that everyone that is it debt any kind of debt will see light in their life. Not like everyone that all they do is cry about it. I'm forced to take this loan out, i already took out 20,000. I never give in to stress, i live life to fullest no matter what situation. Thank you all
Flight School might be going bankrupt with my Sallie Mae Student Loaned Money. Sallie Mae unwilling to help.? I enrolled in a Flight School last year and took out a 25k loan to cover my tuition. Sallie Mae disbursed the money directly to the school within a week. After several weeks of delays in getting of the ground because of planes and instructor shortages I realized that I wanted to withdraw from this particular flight school and go elsewhere so I asked to have my loaned money returned to Sallie Mae. After several months of contacting the school and Sallie Mae, Better Business Bureau, Attorneys Generals Office I have not yet have the money returned to Sallie Mae and continue making payments. Looks like the school might be going out of business since I cant get a hold of anyone there and no one ever returns my phone calls. Anyone out there please let me know what are if any measures can be taken to get the money back or if Sallie Mae will go after myself or the school if I default on the Loan since I dont want to make a 25k donation to school owners vacation fund. Thank you for responses.
How do i move my student loan from Sallie Mae to another company? I ask this because they have the WORST customer service in the world. I've come to find that i'm not the only one with horror stories and I really didn't want them to be in control of my loan in the first place. They actually bought out my first loan company, ACS.
Flight School might be going bankrupt with my Sallie Mae Student Loaned Money. Sallie Mae unwilling to help.? I enrolled in a Flight School last year and took out a 25k loan to cover my tuition. Sallie Mae disbursed the money directly to the school within a week. After several weeks of delays in getting of the ground because of planes and instructor shortages I realized that I wanted to withdraw from this particular flight school and go elsewhere so I asked to have my loaned money returned to Sallie Mae. After several months of contacting the school and Sallie Mae, Better Business Bureau, Attorneys Generals Office I have not yet have the money returned to Sallie Mae and continue making payments. Looks like the school might be going out of business since I cant get a hold of anyone there and no one ever returns my phone calls. Anyone out there please let me know what are if any measures can be taken to get the money back or if Sallie Mae will go after myself or the school if I default on the Loan since I dont want to make a 25k donation to school owners vacation fund. Thank you for responses.
I have a few student loans with sallie mae and aes, a comopany called me called onesimpleloan and offered? consolidating the loans they said it will improve credit scores and my interest rate will be a point lower, giving me a 4,000 deduction in interest is these consolidating services a good idea? I am still in school but I have some deferred loans from my previous school I took a year off and went back. They said my payment would be 120 for the first two years and 175 for the years after that. right now our yearly income is 20,000 a family of six, so hopefully after graduation our income will go up, this stuff worrys me my myspace is myspace.com/crystalawak you can talk to me there to if you like. If you want to tell me how to make money like I need you can leave me some ideas too (0: funny I did write a lot of typos in thanks for pointing it out ~sorry~
Sallie Mae consolidation of private student loans debt.? I currently have $73,000 in student loan debt from undergrad/grad through Sallie Mae. The interest rate is 9%, and my montly payments are outrageous. After the capitolized interest, I will be paying close to $140,000 after 12 years. My great grandchildren will be paying this debt long after I am gone. What is the best way to consolidate this debt and get a lower interest rate and better monthly payments. I am living in hell right now. Any advice would be greatly appreciated. Thank you.
I have almost $3000 in student loans all with Sallie Mae should I consolidate? Like the title says, I have about $3000 in student loan debt some w/ Sallie Mae and then also AES. Is it wise to consolidate w/ Sallie Mae? I have horrible credit as I was out in 29 Palms doing USMC training and thought I was still in deferment but I wasn't and ound up being close to 4-5 months late on payments. There for I have HORRIBLE credit, I believe 480s last time I checked. I am trying to get my credit back under control so I need some help. What do you all recommend? I will be consolidating w/ Sallie Mae as well.
Sallie Mae Signature Student loan? About how long does it take for a school to certify a sallie mae signature student loan? My credit was approved yesterday, and now I just have to wait for my school to certify the amount. I was wondering about how long that takes. If anyone has got one, how long did yours take? I know the time probably varies - just looking for an estimate. Thanks
private student loan from sallie mae? Right now I have about 31,000 in private loans from sallie mae (Im only a sophomore!!!) and the interest rates are RIDICULOUS im talking like 14% and its accruing while I am in school. Is there any lender who will consolidate my loans while I am in school so I don't have to worry about owing a TON of interest when I finish? I am really worried about my financial future with all these loans, with the fed loans I have for the two years totaling about 13,500 so far (two 4,000 unsub and 2 subsidized for 2,625 and 3,500) I just worry that when I get out I am going to be like 70 thousand in debt and not get anywhere with my degree....any suggestions? its really causing me stress while I am in school trying to do good I feel like I have a TON to worry about in the future. I know that almost everyone has student loans, but I don't know anyone thats as far in as I am being only in my second year. i know the private loans will accure interest even if i consolidate, I just want a lower rate.
How do I consolidtae multiple student loans? My wife has a student loan thru the government(direct loans) and a student loan thru sallie mae. Can we consolidate those into one loan? SOmeone told us that the sallie mae loan will be harder to consolidate because its private? Can we even consolidate both loans into one?
can i get a private student loan in sallie mae if my school is not on their list? i wanna get a private student loan, but my school is not on their list. im just wondering if i show them proofs that i am enrolled in that school, would i be able to apply for the student loan? there's no other loan i can apply for but sallie mae. please help. thanks i go to a vocational school. the school's name is bay area college of nursing.
Need Help, I have High interest rate Student Loan with Sallie Mae? I need help and advice. my student loan interest rate with Sallie Mae is 11.75%. loan amount $25,750.00 and my credit score is fair, so before the first payment due from Sallie Mae. can i consolidate the loan, or maybe i can get another loan with low interest rate? what is the best way? i've read some of the issue from other ppl, they said you can not consolidate your loan with Sallie Mae? meaning that, i will be paying my student loan with Sallie Mae for the rest of my life. WOW.... (i told my self, i sholdnt have get student loan) Please help. Private student loan
Okay to worry about paying off student loans? Reaching $60,000 and I still have two more years in college!!!!? I just finished my second year in college. I have loan of $60,000 with interest rate of 10.25% - $50,000 on private loan (Sallie Mae Student Signature Loan) and the rest on federal subsidized loans. They are all under my name on my credit. How did this happen? I go to one of the most expensive private colleges in the country and I wasn't so particularly wise while filling out my FAFSA in my freshmen year. My parents are not in a financially good position to take out loans for me...even federal PLUS loans. I have to get about $13,000 more for my junior year. I see seniors graduating with much less debt than I have right now, and I always worry about paying off all these loans in the future!!!! Has anyone been in a similar situation as me? Am I supposed to worry or is this pretty normal????? Any advice for a poor college student? THANK YOU!
What to do with 150k sallie mae student loans? I borrowed a small fraction of that and was shocked when I realized I have to pay back 3 times what I borrowed. My mom is the cosigner so it's not like I can just default. I hear sallie mae is bad at letting people consolidate loans. I'm hoping that someone has had this experience and can tell me what I can do to lessen the blow. I can't afford my monthly payments.
Sallie mae? I applied for a student loan at sallie mae..and somebody told me if you dont have a cosigner they wont give you more thatn 2000 dollars for freshmen. Then other people say they will give u up to 40,000 dollars..Should I just call sallie mae and talk to a person on the phone? Ug I need help
I have a Private student loan w/sallie mae, every month the pymnt goes up! Who can help me? pymnts are $700+? This is about a 15 year loan where sallie mae is telling me i have no control over the interest rate and payment amount. I had to defer the loan for six months because I couldn't afford it during a career change. I am afraid it will keep me from ever buying a house or being able to live on my own. I'm just looking for anyone in the same position and how i can get out!! Are there any good companies out there who work well with this situation? I owe about $75k on this one private loan.
Trouble with sallie mae loan? I'm a helicopter pilot student with a sallie mae loan. When I originally applied, I was under the impression that I could wait until I graduated/received my CFI certificate, to begin paying back the loan. then they started charging me 10.00 every month because it was a career loan and not a real student loan. Huh? I AM a student! Now they've started demanding these 268.00 a month payments. WHAT? I am a full time student and not working at all, so I can't pay this under any circumstances, unless I quit school and start working. My husband makes enough to support us at the moment, but not enough to just start handing out 300.00 loan payments. My dad was paying the 10.00 payments for me, just as a way to give me one less thing to worry about really, but he's not going to start making these ridiculous payments. I'm just not sure what to do. Does anyone know of a Helicopter school that will pay for training if you contract to work for them when you're done? Any other ideas? I did call them, and thought I had gotten somewhere when I sent a letter explaining my situation and asking them to, if nothing else, revert back to the $10 payments. I have heard nothing since, and several emails have gone unanswered. And upon calling them I could get nowhere with any of their phone staff.
Am I eligible for a $25,000 Undergrad Student Loan From Sallie Mae ? Im starting undergrad school for a second time, my last time in school I didn't do well.I have loans that I have consolidated threw Sallie Mae and I have no loans in default,All payments are current and on time for 3 years now. I have fair credit, my score is 630-638.I have no bad marks on my credit at all.All positive.I've worked at my Job for almost 7 years.I have a bank account I've had for 5 years.I have one credit card in good standing. I would like to go to Sallie Mae for a $25,000 loan for undergrad studies.My question is from reading my above history.is it realistic for me to be eligible for this amount ? Also how long does a loan take to process? Can i get a loan after I enroll...? Or do I have to wait to register also..? THANKS FOR THE REPLIES, TIME AND BEING HELPFUL..THANK YOU... I have already fill out application for F.Aid.I just would like to take time off from working a hard job (7 years) and focus on school for one year and go back to work PT and would like the loan to support school and my personal situation.thanks
Sallie Mae refund interception? Is Sallie Mae student loan considered federal or private? Can they intercept my tax refund if I still owe money from them? Please dont respond if you're just gonna say that im a "deadbeat" and "just pay the damn loan". here's why" http://www.cnn.com/2004/TECH/ptech/02/23/schools.gobust.ap/ .
Should i begin to pay off my student loans? Im finishing up my second year of college with 25k in sallie mae student signature loans....i have built up 15k over the years which i currently have sitting in a bank CD at about 5%. My four loans run anywhere from 7.25-9.25% with accumulated interest so far of 1,500. Would it be best to begin paying off some of my loans (or maybe just the interest) or should i keep saving? Interest rates are variable
Sallie mae taking forever to process my student loan? I completed a student loan application and was credit approved, they said they just need to get some information from my school. Well its been over 2 weeks and the application is still incomplete and i need the money now so i can pay for my dorm or be forced to move out. Does anyone know how long this usually takes? P.S Yes i have heard the bad things about sallie mae.. i wouldn't have applied for this loan from them if i didn't have to.. so please spare me the "don't go with sallie mae" talk.
How can I figure my student loan interest deduction on my private student loans? It was not included-1098!? Received a 1098 from Sallie Mae for my student loan interest deduction. It did not include the interest paid on my private student loans. The Sallie Mae website provided information that all of my student loans may not be eligible for the interest deduction. My interest was over $4,000.00. During a divorce ,while in college, I took student loans for living expenses, transportation, books, supplies and tuition. How do I determine the total deduction allowed? The 1098 reflects that $632.00 was reported to IRS. How do I determine if I qualify for the maximum deduction of $2500.00?
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