Sally Mae and the Student Loan Swindle Message Board

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Non-Tech : Sally Mae and the Student Loan Swindle

SLM 28.25

-0.7%

Oct 28 3:59 PM EDT

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From: Grandk	7/18/2007 5:59:45 PM
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Bush says will work with Congress on student loans Wednesday July 18, 5:38 pm ET WASHINGTON (Reuters) - The Bush administration said on Wednesday it cannot support a Senate bill that would cut subsidies to college student loan firms and boost student grants, but said it will work with Congress on the issue. As the Senate debated the bill, the White House issued a statement that said it "cannot support Senate passage of (the bill) in its current form because of serious concerns with some provisions of the bill." The House of Representatives last week passed a similar bill with deeper cuts to subsidies paid to lenders such as Sallie Mae (NYSE:SLM - News), Citigroup (NYSE:C - News) and Bank of America (NYSE:BAC - News). The White House threatened to veto the House bill. ------------------------------------------------------------------------------------- SLM buyout on shaky ground.

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