The group buying Sallie Mae says it wants to renegotiate the deal in light of legislation passed by Congress and signed into law last week that changes the government subsidy level provided to student loan banks. The buyers argue that the new law changes the student loan program…

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Skirmishing Over Sallie Mae Deal Intensifies

Fighting intensified last week over the proposed buyout of the student loan giant Sallie Mae. A group of investors that had agreed to buy the company are now saying…

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At a time when cozy relations between banks and college financial aid administrators have come under intense scrutiny, we are sorry to report that some colleges that participate in the Federal Family Education Loan (FFEL) program continue to make it extremely difficult for their students to take out…

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If you want a glaring example of the types of favors and give-aways that the government provides the student loan industry at the expense of taxpayers, look no further than the "Exceptional Performers" program.

Under that program, the…

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In 2005, Congress tucked into the bankruptcy bill a provision making it virtually impossible for borrowers to discharge private student loans. That provision -- which was added in a secret conference committee, received no public debate, and had no named Congressional sponsor --represents a glaring example of politicians serving corporate interests over regular people.

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Study Abroad Becomes Next Target of Cuomo Probe

Many of the same improprieties that have been uncovered in the student loan industry are also occurring between colleges and companies that offer study abroad programs, according to The New…

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Colleges and Lenders Should Adopt Regulations Now, Spellings Says in Letter

Though new Education Department regulations on federal student loans do not go into effect until next July, colleges, lenders, and guarantee agencies should begin following them now, wrote…

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Congress is inching closer to slashing overly generous subsidies the government provides student loan banks and increasing need-based student aid by a concomitant amount. Last week, the House approved a budget reconciliation bill that would reduce bank subsidies by $19-billion over five years and redirect the savings to expanded grant aid…

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House Passes Bill to Cut Lender Subsidies and Help Students

Amid cheering, jeering and impassioned speeches, the House of Representatives approved legislation on Wednesday that would reduce lender subsidies by about $19 billion over five years and…

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You can do a lot of things with $108,000 - send close to 50 students to community college for a year, fund 50 Pell Grants or donate 6,033 copies of the forthcoming Harry Potter book to your local school - to name just a few. But Sallie Mae is hoping $108,000 can…

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