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Non-Tech : Sally Mae and the Student Loan Swindle
SLM 26.61-1.4%3:59 PM EDT
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From: Grandk1/10/2007 3:18:37 PM
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WASHINGTON (MarketWatch) -- Shares of student lender SLM Corp. were off as much as 5.1% Wednesday afternoon, as U.S. lawmakers geared up to introduce proposals cutting rates on some student loans by half.
The plan would cost the government about $6 billion over five years.
"Such legislation will be moving forward and its $6 billion price tag will be funded by the lenders who participate in the Federal Family Education Loan Program," Stanford Group Company analyst Jaret Seiberg wrote in a note Wednesday.

marketwatch.com
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