Sally Mae and the Student Loan Swindle | Stock Discussion Forums

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Non-Tech
Sally Mae and the Student Loan Swindle

An SI Board Since December 2006

Posts	SubjectMarks	Bans	Symbol
63	2	0	SLM

Emcee: Grandk	Type: Moderated

Introduction Market Data Compact

From 60 minutes on the student loan industry:

Michael Dannenberg of the New America Foundation told Leslie Stahl, "It may be called 'private'but it's not private at all. Frankly it's a socialist-like system. It's not as if this private entity is assuming any risks. No, no, no. The law makes sure that this so-called private entity has virtually no risk."

Ralph Nader commenting on this writes, "It gets worse. Let's say a graduated student defaults. The government pays Sallie Mae both the principal and the interest compounded. But the loan is still subject to collection. Guess who owns some of the largest collection agencies--you guessed it, Sallie Mae. When its collection agency collects, it gets 25% of the recovery. The profits go to Sallie Mae."

counterpunch.org

Lesley Stahl discusses her report on college loan company Sallie Mae here:
cbsnews.com

Senator Ted Kennedy's Student Debt Relief Act
tedkennedy.com

Stop the robbery!!! Our nation's future depends on it. Put the money back in the student's hands.

It is time for change. This thread is dedicated to documenting that change.

Student Loan Justice
studentloanjustice.org

Get Involved!
Tell Congress: Pass the Student Debt Relief & STAR Acts:
studentloansanity.com

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
63	Banks Paying Colleges For Students Who Rack Up Credit Card Debt news.yahoo.com	~digs	-	6/9/2010
62	Cramer has declared SLM his 'speculative stock of the year' weekly char	~digs	-	6/6/2009
61	In Grim Job Market, Student Loans Are a Costly Burden nytimes.com	~digs	-	4/19/2009
60	Good riddance.	Grandk	-	2/27/2009
59	Message 25386927	~digs	-	2/5/2009
58	Sally, Fannie and Freddy are all mismanaged.	greatplains_guy	-	9/30/2008
57	wouldn't touch it w/ a 10ft pole.......	~digs	-	8/19/2008
56	anyone into it? $13.00 per share now!	mlkr	-	8/19/2008
55	The student loan industry is as equally corrupt as the mortgage industry. The am	Grandk	-	12/21/2007
54	I cannot say I am sorry that SLM is tanking. Mr. Lord is getting his just desser	Grandk	-	12/19/2007
53	As much as I dislike Sally Mae I hate this new bill that is being passed. I love	Grandk	-	9/12/2007
52	"EBay" takes on Sallie Mae: <i>With the law, Congress is reduci	Sr K	-	9/8/2007
51	Bush says will work with Congress on student loans Wednesday July 18, 5:38 pm ET	Grandk	-	7/18/2007
50	‘Top Chef’ Dreams Crushed by Student Loan Debt Librado Romero/The New York Tim	Grandk	-	5/8/2007
49	Pop Quiz: Who's Got Access To The Government's Student Loan Data? Posted	Grandk	-	5/1/2007
48	His aides said it, not Teddy. Not sure if that adds any more credibility to it b	Grandk	-	5/1/2007
47	If Teddy said it (between drinks) it must be true. "Sen. Edward Kennedy	greatplains_guy	-	4/30/2007
46	Probe Launched on Sallie Mae Collection Tactics By Amit R. Paley Washington Pos	Grandk	-	4/27/2007
45	Student loan probe moves Congress to act By NANCY ZUCKERBROD, AP Education Write	Grandk	-	4/19/2007
44	Downgrades for Sallie Mae? By Aparajita Saha-Bubna and Anusha Shrivastava Word	Peter Dierks	-	4/16/2007
43	They will have it. And I agree, it is a valuable asset to own.	Grandk	-	4/16/2007
42	Will the new owners have the implied government guarantee? It is a valuable asse	greatplains_guy	-	4/16/2007
41	Sallie Mae Agrees to $25B Takeover Monday April 16, 10:19 am ET Sallie Mae Agr	Grandk	-	4/16/2007
40	Ya, it seems there is more interest in Anna Nicole and Don Imus then on the roya	Grandk	-	4/12/2007
39	There seems to be limited interest in student loan fraud.	greatplains_guy	-	4/12/2007

Go to reply# or date (mm/dd/yy):