February 19, 2010
YOUR FEB. 11 EDITORIAL on student loan reform ("College Proposal No-Brainer") cited an inaccurate and overstated New York Times/Center for Responsive Politics calculation of Sallie Mae's lobbying expenses. The Times has since corrected this figure. Here's what they said: Correction: An article on Feb. 5 about the student lending industry's lobbying against changes to the loan system, using information from the Center for Responsive Politics, a private campaign-finance research group, misstated the amount of money the student lender Sallie Mae spent on federal lobbying in recent years.
May 7, 2013
DEAR HARRY: Several years ago, I co-signed a loan for my son through Sallie Mae, the student-loan corporation. Shortly afterward, he stopped all contact with us and stopped paying on the loan. Naturally, they came after me for payment. Fortunately, I was able to resolve this problem by entering into a co-borrower release agreement with Sallie Mae in February 2009. Since then, I have been contacted from time to time by collection agencies claiming to represent Sallie Mae. They insist that I still owe the full remaining principal on the loan.
April 28, 2014 |
SLM Corp., the student-loan giant based in Newark, Del., will split into a loan servicer and a consumer bank this week, in a bid to gain a clearer profile for investors. The separation, in the works for almost a year, will happen Wednesday, when shareholders will receive a new share in a loan-servicing company called Navient Corp. for every SLM share they own. Navient, which announced this month that its headquarters would be in Wilmington, will take over the servicing of federal government-backed student loans with balances of $103.2 billion and $31 billion of private loans.
March 1, 2010
THE Daily News has repeatedly missed the mark regarding student loan reform and Sallie Mae (editorial, "Sallie's Jobs," Feb. 19). You say you're sympathetic to job loss but recklessly throw your support behind the proposed government takeover of the student-loan industry that will cost Pennsylvania good family-supporting jobs and force American families to deal with a government monopoly. To call this potential job loss "fearmongering" by Sallie Mae is also plain reckless. There are more than 1,000 Sallie Mae employees in Wilkes-Barre whose jobs could be on the line because of this intentional but avoidable congressional action.
February 5, 2006
Perhaps it's impossible to find a member of Congress who is not somewhat cozy with lobbyists. But in choosing Rep. John Boehner of Ohio as their new majority leader, House Republicans have selected one of the coziest. Boehner has been chair of the House Education and the Workforce Committee, which regulates student loans. But he is so deeply indebted politically to the student-loan giant SLM Corp. that he has been referred to derisively as "the congressman from Sallie Mae. " SLM was the top donor in 2003-04 to Boehner's leadership PAC, with $65,170.
March 30, 2013 |
Albert Lord Jr., at age 67, is planning to retire as chief executive officer of student loan giant SLM Corp., better known as Sallie Mae, where he has battled presidents and barons of Congress, college heads and student protesters, rival bankers. and other ferocious foes since 1981. He's left Sallie Mae twice before - once voluntarily, once not. Tough job? Even for a guy paid $7 million in cash and stock in 2011, the last year Sallie reported his income? Albert Lord knows tough.
December 22, 2004 |
SLM Corp., the publicly traded student loan company known as Sallie Mae, is offering to pay $1 billion to the Commonwealth of Pennsylvania to take over the Pennsylvania Higher Education Assistance Agency. In a sign of how profitable the industry has become, Sallie Mae and the state agency traded jabs yesterday as if they were engaged in a hostile takeover battle. The state agency's fate appears to rest in the hands of the General Assembly and Gov. Rendell. Both are reviewing the proposal.
February 19, 2010
"MY NAME IS CHARLOTTE," the ad begins. "I work for Sallie Mae to help families go to college and I agree with President Obama. One job lost is too many - especially in Pennsylvania. But my job could be lost because Congress is about to vote on another bill . . . putting Washington in charge of student loans instead of letting local employees do the job. That would cost Pennsylvania hundreds of jobs - maybe even thousands. Visit ProtectPennsylvaniaJobs.com. We're sympathetic to people facing job loss.
September 12, 2016 |
Tuition loans to U.S. college students have more than doubled since President Obama took office. Grads and dropouts owe $1.3 trillion, up more than $90 million each year, the Federal Reserve says. More than six million Americans are late or have stopped paying their college loans. Partly that's because the government has run its taxpayer-backed loan programs in a nonjudgmental way that is unusual in American finance. To buy a house or a car, banks want you to have a job, ready cash, and a history of paying your bills.
February 18, 2005 |
Legislators yesterday weighed a tempting $1 billion offer from the for-profit student loan behemoth Sallie Mae, which hopes to buy the lion's share of the state's own nonprofit student-loan agency. The sheer size of the proffer demands that the legislature and governor give it serious consideration, especially in an era of tight state budgets. But Sallie Mae's bid faces a formidable opponent in the Pennsylvania Higher Education Assistance Agency. Through a combination of student-loan discounts, scholarships, and special programs for Pennsylvania nurses and military personnel, PHEAA says it provides the Commonwealth of Pennsylvania and its residents about $100 million a year in services and discounts.