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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Sallie Mae

Sallie Mae stories: 10 news summaries
MARKETS

 Oil Prices Rise; Dow Up 91 

Low-volume session sees modest advances in energy, financials

Jun 29, 09 3:15 PM CDT
(Newser) - Stocks enjoyed modest gains today as a jump in oil prices lifted energy firms, the Wall Street Journal reports. Crude futures rose $2.33, to $71.49 a barrel; Exxon shares gained 2.39%. Financials also saw advances, led by Sallie Mae, which jumped 8.2% on new government terms... More »

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Exxon • Sallie Mae • student loans • Dow Jones • Nasdaq • S&P 500 • oil prices

Fight Looms Over Plan to Give Loan Funds to Students

The administration wants to cut out private lenders, setting up a showdown

Apr 13, 09 8:49 AM CDT
(Newser) - President Obama's plans to end a subsidized student-loan program—diverting billions of dollars in profits for private lenders like Sallie Mae to scholarships for needy students—is prompting howls of protest from lenders and setting up a Congressional showdown, the New York Times reports. The Congressional Budget Office estimates that... More »

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education • Sallie Mae • student loans • Congressional Budget Office • Pell grants • student loan reform • Obama administration

 Banks Cut Colleges
 Eligible for Student Loans 

Students at 2-year, non-elite 4-year schools left in the lurch

Jun 2, 08 8:09 AM CDT
(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... More »

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

Sallie Mae Drops $900M Lawsuit

Move helps struggling student loan provider obtain $31B in financing

Jan 29, 08 9:31 AM CST
(Newser) - Beleaguered student loan provider Sallie Mae yesterday dropped its $900 million lawsuit against the onetime suitors who bailed on a $25.3 billion buyout after the credit crunch caused would-be investors to walk away, reports the Washington Post. By agreeing not to seek the penalty from investment firm JC Flowers... More »

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private equity • Sallie Mae • student loans • Bank of America • lawsuit • credit crisis • JC Flowers and Co • SLM Corp • JPMorgan Chase

Student Lender Sallie Mae Plans $2.5B Stock Sale

Embattled stock drops 6.5% as investors fret

Dec 27, 07 7:37 AM CST
(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... More »

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private equity • Sallie Mae • subprime mortgages • SLM Corp

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

Investor group doesn't want to cough up $900M

Oct 16, 07 4:13 AM CDT
(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... More »

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

Sallie Mae Sues Spooked Suitors

Student-loan giant refuses to renegotiate $25B buyout deal

Oct 9, 07 5:45 AM CDT
(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... More »

MORE ABOUT:
private equity • Sallie Mae • Bank of America • buyout • JC Flowers and Co • Friedman Fleischer and Lowe • Albert Lord • JPMorgan Chase

$25B Sallie Mae Buyout
on the Rocks

Credit market implosion leaves buyer looking for the door

Sep 27, 07 9:52 AM CDT
(Newser) - Sallie Mae doesn’t look like such a bargain at $25 billion anymore, and J.C. Flowers & Co. is trying to renegotiate—or escape—its deal to acquire the student lender, citing the credit market implosion and legislation to reform student loan practices. It’s the kind of deal... More »

MORE ABOUT:
private equity • Sallie Mae • student loans • credit market • private equity firms • JC Flowers and Co • student loan reform

Sallie Mae
Chief Quits

Equity firm pressured loan giant CEO to step down, ease buyout

May 23, 07 5:52 AM CDT
(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,... More »

MORE ABOUT:
private equity • Sallie Mae • student loans • merger • loans • acquisition • Thomas J. Fitzpatrick • J.C. Flowers and Co • student

Loan Giant Sallie Mae Goes Private

Nation's largest student lender is
sold for $25 billion

Apr 17, 07 8:37 AM CDT
(Newser) - A group of investors is buying student lending giant Sally Mae for $25 billion, even as Capitol Hill debates reducing federal subsidies for student loans. The company—which began as a quasi-public agency—will be taken private by Bank of America, JPMorganChase, and private equity houses J. C. Flowers and... More »

MORE ABOUT:
private equity • Sallie Mae • student loans • Bank of America • J. C. Flowers • business • finance • shares • Friedman Fleischer and Lowe • JPMorgan Chase

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