Sallie Mae Fights to Maintain Viability

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The private student loan corporation Sallie Mae is facing losing all its business. President Obama has proposed having the government take over the business directly of making student loans rather then using companies like Sallie Mae. The budgets drafts recently passed by the House and Senate contain that provision. The Indystar.com reports that the company is looking at what it can do if this happens. The company employs a great deal of people in Indiana especially in the town of Fisher. The company is first turning to its Congressional delegation to get the proposal moved out of the budget. It then is hoping that it might win contracts t support the Federal government manage the loans if the business is taken over. To help the local Congressmen and Senators come to a decision to aid them the company is saying they will move 2,000 jobs back to the U.S. that they had previously outsourced. As with the new defense budget Congress will have the final say on how things are implemented and their motivation is not always the same as the administration’s.

Tags: Sallie Mae, Government, Vertical Industries, Enterprise Software, Software, Matthew Potter

Matthew Potter works supporting US Army aviation programs. He holds degrees in history as well as studying at the Defense Acquisition University. He has written for Seeking Alpha and at his own website, Defense Procurement News.

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