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Topic: Sallie Mae

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	Sallie Mae's Definition of Success (washingtonpost.com)
		Sallie Mae, the college loan giant, is taking its first tentative steps toward making money off of other things besides student loans, and it is using its most prized asset: its customers, millions of former college students with plenty of disposable income.
		Sallie Mae's parent company is USA Education Inc. It serves as a holding company for the original Sallie Mae; Nellie Mae Corp., an originator of student loans; and USA Group, the student loan servicing company that Sallie Mae purchased in 2000.
		Sallie Mae's customer base is an asset that could potentially generate considerable revenue for the company, but not at the expense of the loan business, which Snowling said he believes must remain the company's focus.
	www.washingtonpost.com /ac2/wp-dyn?pagename=article&node=&contentId=A6459-2002Jan6¬Found=true (1185 words)

	In re Student Loan Marketing Association (Sallie Mae), Dkt. No. 96-23-SL
		Sallie Mae is a creature of statute, having been authorized by Congress in 1972 as a federally-chartered, for-profit corporation that is publicly held and financed by private sector capital.
		Sallie Mae pays Scholl College a negotiated amount equal to 100 percent of the par value (the principal balance plus any accrued interest) on each loan, plus an amount described as an "incentive fee" of up to 2.5 percent over the par value of the loan.
		Although Sallie Mae functions as a secondary market for student loans and is specifically prohibited by statute from originating loans, it is still referred to as an "eligible lender" of student loans covered by federal loan insurance.
	www.ed-oha.org /cases/1996-23-sl.html (2741 words)

	College Answer
		Sallie Mae likewise may change the terms and conditions of the Terms from time to time with or without notice to you.
		Sallie Mae is permitted to disclose the information you provide to financial institutions, educational institutions and other authorized third parties.
		Sallie Mae is permitted to disclose to financial institutions, educational institutions and other third parties Registration Data and certain information about User's use of the Service.
	www.collegeanswer.com /global/about/about_disclaimers.jsp (3556 words)

	Hispanic Business News: The Sallie Mae Fund Awards More Than $2.5 Million in College Scholarships
		The Sallie Mae 911 Education Fund: Created in response to the September 11, 2001 terrorist attacks, the 911 Education Fund provides scholarship dollars to children of those who were killed or permanently disabled in the attacks.
		To be eligible for The Sallie Mae Fund Scholarship Programs, students must be accepted and enrolled at a Title IV eligible, accredited postsecondary two- or four-year college or university, vocational, or technical school in the United States or Puerto Rico and meet program-specific eligibility requirements.
		The Sallie Mae Fund, a charitable organization sponsored by Sallie Mae, achieves its mission -- to increase access to a post-secondary education for America's children -- by supporting programs and initiatives that help open doors to higher education, prepare families for their investment, and bridge the gap when no one else can.
	www.hispanicbusiness.com /news/news_print.asp?id=12521 (762 words)

	Sallie Mae Sallies Forth - A government-sponsored corporation learns to love the free market. By Daniel Gross
		Sallie Mae would purchase loans from banks—using funds borrowed at favorable rates from a Treasury Department entity called the Federal Financing Bank—and then collect the payments from students down the road.
		Sallie Mae suffered a blow in 1994, when the Clinton administration's Department of Education began making loans directly to students, thus bypassing the banks who were Sallie Mae's clients.
		Sallie Mae's student-loan business is now segregated into a subsidiary that maintains its traditional GSE status.
	www.slate.com /id/2070149 (1408 words)

	THE TUG-0F-WAR OVER SALLIE MAE
		On one side, a band of Sallie Mae alumni, led by former Chief Operating Officer Albert L. Lord, is attempting to seize control of the company and put it on a far more aggressive growth path.
		Sallie Mae officials were stunned by the reversal, calling the ISS decision "unenlightened." Despite the blow, they maintain that they'll prevail.
		Lord's insurgents, though outspent by Sallie Mae's management, have the backing of many of the company's largest shareholders including Chancellor Capital, Capital Research & Management, Boston Partners, and the majority of Fidelity Management's various portfolio managers holding Sallie stock -- a group that controls a combined 39% of all shares.
	www.businessweek.com /bwdaily/dnflash/july/nf70725a.htm (618 words)

	News & Features \| Sallie Mae not (continued)
		But CLC alleges that Sallie Mae, which buys up tons of loans without borrowers’ knowledge, has violated its single-lender privileges through its private subsidiary businesses, by failing to process applications for consolidation properly and diverting applications to lenders with which it is affiliated.
		Sallie Mae borrowers are also subject to what Cristina’s husband, attorney Robert Kaiden, calls "particularly cutthroat collection practices." Over and over, he and other consumer-services attorneys, who deal with aggressive collection tactics every day, say they rarely see other companies go to such extremes.
		Sallie Mae — as a holder of federally guaranteed loans — is even able to suspend bank credit cards, regardless of how exemplary one’s credit has been.
	www.bostonphoenix.com /boston/news_features/top/features/documents/03351781.asp (2097 words)

	Features \| Sallie Mae not (Site not responding. Last check: 2007-10-21)
		Not surprisingly, Sallie Mae is one of the biggest "make and hold" lenders; the other two are Citibank and Wells Fargo, but there are lots of smaller banks that tend to keep their own loans, too.
		SALLIE MAE, which calls to mind the image of a big-hearted mountain gal who wouldn’t even dream of scammin’ folks, was formed in 1972 as a "government-sponsored enterprise," under revisions to the Higher Education Act (HEA) of 1965.
		Sallie Mae spokesperson Tom Joyce insists that the company doesn’t pyramid fees (though he cannot explain how else someone’s late-fee balance could consistently show up as zero, when in fact that person was being charged every month); nor, he says, does it charge duplicate fees for one late payment.
	www.providencephoenix.com /features/top/multi/documents/03389670.asp (2188 words)

	Rip Off Report:Salle Mae Aka SLM Financial Aka Sallie Mae Servicing Defamation Suit Fails Reston Nationwide (Site not responding. Last check: 2007-10-21)
		Furthermore, it appeared that Sallie Mae was attempting to use the transfers to shield the privately originated AmeriTrain accounts under the umbrella of the Family Federal Education Loan Program, in effect changing the rules under which the loans had first been written.
		Sallie Mae was again attempting to circumvent compliance with the laws it had broken with a series of calculated maneuvers designed to deceive the public and evade the lawsuits it was facing.
		The one place Sallie Mae most fears to be is a court of law; the bane of their existence is public scrutiny.
	www.ripoffreport.com /reports/ripoff59942.htm (1915 words)

	SEC Probes Sallie Mae Unit's Accounting (washingtonpost.com)
		The Reston, Virginia-based company, which is better known as Sallie Mae, said the informal inquiry concerns year-end accounting entries made by some of the unit's employees.
		Sallie Mae manages nearly $89 billion in student loans for more than 7 million borrowers.
		Sallie Mae shares fell 11 cents to $37.76 in Friday morning trading on the New York Stock Exchange.
	www.washingtonpost.com /wp-dyn/articles/A62985-2004Jan30.html (233 words)

	Sallie Mae sued - Sep. 16, 2002 (Site not responding. Last check: 2007-10-21)
		CLC said it was seeking at least $50 million in damages from Sallie Mae for failing to process at least 4,000 applications in violation of the U.S. Higher Education Act.
		CLC said this position was improper and in fact contradicted the position Sallie Mae took five years ago when trying to avoid federal fees on loans it held.
		Sallie Mae would not comment on any of these specific allegations without first seeing a copy of the complaint against it.
	money.cnn.com /2002/09/16/news/companies/salliemae (491 words)

	Rendell finds Sallie Mae's bid for PHEAA 'intriguing' - PittsburghLIVE.com
		"Sallie Mae is one of the largest and most aggressive for-profit companies in the world," PHEAA said yesterday in a statement to Pennsylvania's colleges and universities after Sallie Mae's offer became public.
		Sallie Mae has only a modest share of the Pennsylvania college-loan market, which is dominated by PHEAA.
		"Sallie Mae asserts they can save the taxpayers tens of millions of dollars on the (loan) servicing side, which is intriguing to the governor because he's always looking at ways to save the taxpayer (money)," Philips said.
	www.pittsburghlive.com /x/tribune-review/trib/regional/s_285834.html (1076 words)

	washingtonpost.com: Sallie Mae, Moving in Slo-Mo
		Sallie Mae, the nation's leading provider of educational loans, still hasn't begun sending loan-payment information on millions of borrowers to Experian and TransUnion, two of the nation's major credit bureaus.
		Amid mounting criticism and threats of legislative action by Senate leaders, Sallie Mae reversed its policy and promised in November to resume reporting the repayment history of its borrowers to Experian and TransUnion.
		If I were a Sallie Mae customer, I would also be highly disturbed that throughout this entire process -- from the decision to pull payment data from Experian and TransUnion to the promise to resume the credit reporting -- the company still hasn't bothered to tell borrowers a darn thing.
	www.washingtonpost.com /ac2/wp-dyn/A14277-2004Feb28?language=printer (817 words)

	Sallie Mae - AskTheBrain.com
		Sallie Mae owns or manages student loans for more than 7 million borrowers, which account for roughly one third of these outstanding loans.
		Sallie Mae Sallie Mae student loans provide borrowing resources for candidates of all levels and interests to encompass your education and training goals.
		Sallie Mae automatically adjusts the interest rate on a private loan according to the rate formula and index that are stipulated in the loan's promissory note.
	www.askthebrain.com /mae_sallie-.html (535 words)

	JS-2173: Treasury Announces Successful Privatization of Sallie Mae (Site not responding. Last check: 2007-10-21)
		Congress originally established Sallie Mae in 1972 as a government-sponsored enterprise (GSE) to help students by facilitating a secondary market in federally guaranteed student loans.
		Sallie Mae's shareholders approved a reorganization that created SLM Corporation, a Delaware-chartered holding company, and the Sallie Mae GSE became its wholly-owned subsidiary.
		The Sallie Mae privatization included the establishment of a trust, satisfactory to Treasury, defeasing the remaining liabilities of the GSE.
	www.treas.gov /press/releases/js2173.htm (337 words)

	Report: California AG's office probing Sallie Mae - Oct. 26, 2004
		The Financial Times reported that investigators are looking at Sallie Mae's private loans to schools that did not have accreditation, the lender's relation with schools and whether students were misled about private loans that Sallie Mae offers.
		The newspaper also reported that Sallie Mae acknowledged that it has received questions from state investigators about how it disbursed funds on private loans to students attending for-profit schools that have closed.
		Sallie Mae, which is formally known as SLM Corp., was created by the U.S. government as a response to problems in the Guaranteed Student Loan Program.
	money.cnn.com /2004/10/26/news/fortune500/sallie_mae (301 words)

	www.NASFAA.org Sallie Mae Fund Extends Until October 31 the Deadline for Red Cross Donation Matching for NASFAA Members
		The Sallie Mae Fund has announced that it will extend the deadline to participate in a special offer to match donations made by individuals at NASFAA Member institutions to the American Red Cross, for Hurricane Katrina relief efforts.
		On September 14 The Sallie Mae Fund issued a clarification for those who donated to the Red Cross after Hurricane Katrina (which made landfall in the Gulf Coast on August 29), but before the matching offer was made.
		Sallie Mae will also accept a credit card statement assuming it shows the donor's name, the date, and the amount of the gift to the Red Cross.
	www.nasfaa.org /publications/2005/nsallieextension100405.html (392 words)

	News-Star OnlineCompetitor sues Sallie Mae over consolidating student loans 09/17/02
		A competitor of Sallie Mae on Monday sued the nation's largest holder of student loans, alleging that it improperly denied borrowers the right to consolidate education loans with the lender of their choice.
		WASHINGTON (AP) -- A competitor of Sallie Mae on Monday sued the nation's largest holder of student loans, alleging that it improperly denied borrowers the right to consolidate education loans with the lender of their choice.
		"Sallie Mae has violated the trust placed in them by thousands of students and their families," Mark Brenner, College Loan's general counsel, said in a statement.
	www.news-star.com /stories/091702/edu_64.shtml (305 words)

	Boston.com / Business / Sallie Mae-JPMorgan End Student Loan Pact (Site not responding. Last check: 2007-10-21)
		Sallie Mae, which is based in Reston, Virginia, had said that it had honored its contractual commitments.
		Sallie Mae spokeswoman Martha Holler did not immediately return a call seeking comment.
		Sallie Mae said J.P. Morgan will continue to sell all student loans to Sallie Mae, whether under the Chase or Bank One brand, that are originated or serviced on Sallie Mae platforms.
	www.boston.com /business/articles/2005/03/22/sallie_mae_jpmorgan_end_student_loan_pact (414 words)

	allie Mae Jobs - Employment Opportunities at Monster.com (Site not responding. Last check: 2007-10-21)
		Sallie Mae is the nation's leading provider of education funding, managing more than $72 billion in student loans for more than 7 million borrowers.
		For 30 years, Sallie Mae has been helping students achieve their dreams of higher education by providing funds for educational loans, primarily federally guaranteed student loans originated under the Federal Family Education Loan Program (FFELP).
		A for-profit, publicly traded company on the New York Stock Exchange (NYSE: SLM), Sallie Mae is a Fortune 500 company headquartered in Reston, Virginia, with facilities and subsidiary companies located throughout the United States, including Indiana, Ohio, Massachusetts, New Jersey, Pennsylvania, Florida, Texas, Nevada, Arizona, South Dakota, Iowa and Colorado.
	company.monster.com /usa (278 words)

	Globeinvestor.com: Sallie Mae Announces Officer Promotions
		Moehn joined Sallie Mae in 1995 as part of its acquisition of HEMAR Insurance Corporation, an insurer of private education loans, in Sioux Falls, S.D., where he served as president and chief operating officer from its inception in 1985 to 2001.
		O'Connell's primary responsibilities include modeling, structuring and analysis of Sallie Mae's asset-backed securities, and he is the company's principal interface with investment banks' analytics groups, as well as the structured finance side of the bond rating agencies.
		He joined Sallie Mae in 1985 as a loan accounting assistant and was subsequently promoted to senior loan accountant, financial analyst and several management positions within financial planning and analysis.
	www.globeinvestor.com /servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20040811&archive=prnews&slug=2004_08_11_13_1807_1201014 (1044 words)

	IU selects Sallie Mae for student loan servicing
		Indiana University has selected Sallie Mae to provide servicing for federally guaranteed and private student loans on the seven campuses that are administered by the university.
		Sallie Mae was selected from among eight companies that responded to the request.
		If the agreement is extended to 2009, Sallie Mae is expected to process nearly $1.4 billion in loans.
	newsinfo.iu.edu /news/page/normal/1149.html (312 words)

	AACRAO Transcript (Site not responding. Last check: 2007-10-21)
		In an antitrust lawsuit over student loan consolidation a federal jury ruled, June 25, that Sallie Mae is not in violation of the law.
		The suit, brought by the College Loan Corporation in September 2002, argued that Sallie Mae’s acquisition of USA Group in July 2000 allowed the student loan giant to violate the “single-holder rule” of the federal Higher Education Act and to breech a contractual relationship that CLC had enjoyed with USA Group.
		At issue for the jury were CLC allegations that Sallie Mae had breached its contract—which expired in 2001—and violated its fiduciary responsibilities.
	www.aacrao.org /transcript/index.cfm?fuseaction=show_print&doc_id=1407 (341 words)

	Sallie Mae - Student Loan Marketing Association
		A publicly traded company that is the largest provider of educational loans in the U.S. Along with providing student loans, Sallie Mae purchases student loans from the original lenders and provides financing to state student-loan agencies.
		Sallie Mae was originally formed in 1972 as a government enterprise but as of 2004 is a completely independent publicly traded company.
		Sallie Mae is traded on the NYSE with the ticker symbol SLM.
	www.investopedia.com /terms/s/salliemae.asp (188 words)

	WGNTV.com \| Chicago's WB \| Ilyce Glink: Sallie Mae
		Sallie Mae is often the lender of choice and has 7 million student loans in its portfolio.
		As reported in the Washington Post, Sallie Mae said the purpose of its policy was to protect its borrowers privacy and shield them from offers from competing lenders.
		Not surprisingly, Sallie Mae backed down the day before Senate action was scheduled on an amendment proposed by Senator Dick Durbin that would have required Sallie Mae to report everything to all three credit reporting bureaus.
	wgntv.trb.com /news/local/morningnews/wgntv-news-111803glink,0,6788509.story?coll=wgntv-morning-news-1 (451 words)

	Sallie Mae will resume reporting credit history
		Sallie Mae argued that its purpose was to protect its borrowers' privacy and shield them from offers from competing student lenders.
		Sallie Mae never disclosed its nonreporting to its customers, effectively leaving them in the dark when artificially depressed scores penalized them in other credit transactions.
		Sallie Mae's reversal was welcomed by the U.S. Public Interest Research Group, one of the organizations that urged Congress to force the company to report to all three bureaus.
	www.sfgate.com /cgi-bin/article.cgi?f=/c/a/2003/11/16/REG4J32GDN1.DTL (795 words)

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