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Sallie Mae Buyout in Abeyance


Oct 3, 2007

Buying Sallie Mae, the biggest lender in the business, may have seemed like a great idea at first, but doubts have been creeping up. A group of investors that includes J.C. Flowers & Company, Bank of America, JP Morgan Chase, and Friedman Fleischer & Lowe initially offered $25 billion for Sallie Mae, but has recently retracted the offer blaming new legislation for the decision. The College Cost Reduction and Access Act signed by President Bush last week entails, among other things, government cuts on subsidies given to student lenders. Over the next five years, about $21 billion would be cut from lender support and invested in student aid programs. [...]

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112 months ago 0 comments

After what seemed like a never-ending battle between the Senate and the House, a compromise was finally reached on the College Cost Reduction and Access Act. What’s more, based on White House reports, President Bush is even going to retract his earlier threat to veto the bill. The proposal was sent to the president on Friday, and a signature is expected shortly. [...]

113 months ago 0 comments Read More

When it comes to loans, this is the real deal. The Perkins Loan program is a government and school funded program with the smallest interest rates, only 5%. Compared to other low-interest government loans and their high-interest private counterparts, the Perkins Loans are ideal for students who need on-the-spot funds. [...]

114 months ago 0 comments Read More
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