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Sallie Mae Seeks Competitive Bidding, Student Loan Default Rates Remain Low

Posted at 19 September 2008 8:28

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Source: U.S. Department of Education U.S. Secretary of Education Margaret Spellings nowadays announced the FY 2006 native scholar lend legion duck regard ashes historically low at 5.2 percent. … The scale increased from 4.6 percent in FY 2005 and from 5.1 percent in FY 2004. Gulf states unnatural by Hurricanes Katrina and Rita saw large percentage increases in their default tariff, contributing, in part, to the state recoil. As a historical.

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Delisle and Stephen Burd The Wall Street Journal reported yesterday that Sallie Mae is in a shrivel dispute with the U.S. Department of Education over the help's table to hold federal loans from secretive lenders that are struggling with liquidity as a upshot of the credit crunch. According to the newspaper, Sallie Mae has filed a formal object with the Government Accountability Office over the Department's firmness to put its recent Direct Loan servicer, Affiliated Computer ... .

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In 2003, a separate controversy arose involving Sallie Mae, formally known as the Student Loan Marketing (SLM) Corporation, which oversees the student loan program.292 In 2002, Sallie Mae quietly decided to report loan information on more than 7 million of its borrowers only to Equifax and to Innovis Data Solutions, a small credit bureau, and to halt all reporting to Experian and Trans Union. Sallie Mae said the move was intended to protect privacy, approved offers. Critics accused Sallie Mae of trying to hide its borrowers from competitors who might offer better loan deals.


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