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September 6, 2008 12:35:19 AM CDT

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Stories related to: Sallie Mae

Stories

8 Stories

  • June 2008

    • Banks Cut Colleges Eligible for Student Loans

      New York Times  |  Jun 2, 08 8:09 AM CDT

      Banks Cut Colleges Eligible for Student Loans

      (Newser) - Students at 2-year and some less competitive 4-year colleges will be having a tougher time finding loans as banks trim the list of colleges they serve, reports the New York Times . In a move that potentially shuts out some of the neediest students, Citibank, JPMorgan, PNC, and SunTrust all say they have cut back their eligible institutions, focusing on upper-tier schools whose students generally borrow more and default less. More »

      Tags

      JPMorgan Chase  • student loans  • Wells Fargo  • credit market chaos  • Sallie Mae  • Citibank

  • January 2008
  • December 2007

    • Student Lender Sallie Mae Plans $2.5B Stock Sale

      Wall Street Journal  |  Dec 27, 07 7:37 AM CST

      Student Lender Sallie Mae Plans $2.5B Stock Sale

      (Newser) - With a credit rating bordering on junk-bond status, embattled student loan provider Sallie Mae plans a public stock offering to raise $2.5 billion, reports the Wall Street Journal . The company will use $2 billion to buy back its own stock futures, which have lost value recently following a failed attempt to take the company private. More »

      Tags

      subprime mortgages  • private equity  • Sallie Mae  • SLM Corp

  • October 2007

    • Ex-Sallie Mae Suitor Tries to Dodge Breakup Fee in Court

      MarketWatch  |  Oct 16, 07 4:13 AM CDT

      Ex-Sallie Mae Suitor Tries to Dodge Breakup Fee in Court

      (Newser) - The group that offered to buy out educational lender Sallie Mae for $25 billion is now seeking court approval to back out and avoid paying a $900 million break-up fee. The investor group, including Bank of America and JPMorgan Chase, is arguing that recent legislation will reduce the student loan corporation's profits, which investors see as "material adverse circumstances" and grounds to get out of the deal without penalty. More »

      Tags

      George W. Bush  • mergers and acquisitions  • buyout  • student loans  • Sallie Mae  • JC Flowers and Co

    • Sallie Mae Sues Spooked Suitors

      New York Times  |  Oct 9, 07 5:45 AM CDT

      Sallie Mae Sues Spooked Suitors

      (Newser) - College student lender Sallie Mae is suing a group of private equity firms and banks that are backing out of a $25-billion buyout deal. The group—J.C. Flowers & Company, Friedman Fleischer & Lowe, JP Morgan Chase and Bank of America—had set a deadline of today for negotiating new terms, or they'll walk away from the deal, despite a $900-million breakup fee, reports the New York Times . More »

  • September 2007
  • May 2007

    • Sallie Mae Chief Quits

      Wall Street Journal  |  May 23, 07 5:52 AM CDT

      Sallie Mae Chief Quits

      (Newser) - The CEO of student loan giant Sallie Mae resigned unexpectedly yesterday in the midst of a $25 billion buyout by a private equity firm. The Wall Street Journal reports that Thomas J. Fitzpatrick was pressured out to stave off Congressional criticism of the buyout by J.C. Flowers and Co, which is taking the company private. The lender's CFO will take his place. More »

      Tags

      acquisitions  • private equity  • merger  • student  • loans  • student loans  • Sallie Mae

  • April 2007

8 Stories

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