Private lender Sallie Mae cuts 1/3rd its workforce

[gymtanlaundry]

http://www.indystar.com/article/20100329/BUSINESS/3290338/Reform-of-student-loans-hits-Sallie-Mae

How is paying for med school going to change now?

I feel oh-so-comforted knowing my FAFSA is out right now for evaluation. I am sure all this volatility and uncertainty will benefit me greatly.

And I even have a loan through Sallie Mae from undergrad!

Now, I got the Sallie Mae loan, with its crappy interest rate, because I couldn't get one anywhere else, I was too risky. So with the new government operated system, what would have happened? Low interest gov't loan? Yea, right. High interest gov't loan? Again, very comforting.

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[BBender716]

Oh how I wish Sallie Mae were Fannie Mae. Less interest and more yummy.

 

[Geekchick921]

Oh how I wish Sallie Mae were Fannie Mae. Less interest and more yummy.

Even more yummy: Sara Lee.

 

[Narmerguy]

Minor fallout but I'm glad this reform happened. Money intended for students was getting horribly lost in all the administrative work that was unnecessarily being consumed.

 

[Bacchus]

I don't know why one would use a private lender for medical school. Stafford loans and GradPlus loans are being directly serviced through the government. Lower interest rates, loan cancellation past 20 years, no middleman.

 

[armybound]

all of my Sallie Mae loans were from undergrad. I didn't know any better

 

[Slack3r]

I don't know why one would use a private lender for medical school. Stafford loans and GradPlus loans are being directly serviced through the government. Lower interest rates, loan cancellation past 20 years, no middleman.

...because they won't cover the whole cost?

 

[Slack3r]

Minor fallout but I'm glad this reform happened. Money intended for students was getting horribly lost in all the administrative work that was unnecessarily being consumed.

Yea, what we really need in a recession is a ****-load more unemployed. But at least we got those evil corporations eh!?