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Student Loan Corp

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BUSINESS
February 19, 1993 | From Reuters
President Clinton's plan to phase in direct government lending to students sent the shares of companies active in the business into a virtual free fall Thursday. Investors feared that the plan--called a "national service loan" by Clinton in his speech Wednesday night--would ravage the business of the Student Loan Marketing Assn. as well as Student Loan Corp. Sallie Mae dropped $9.375, or 17%, to $47.25 and was the most actively traded issue on the New York Stock Exchange, with more than 3.
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BUSINESS
February 27, 2009 | Tiffany Hsu
President Obama's proposal for direct government funding of student loans -- cutting out private industry -- sent shares of Sallie Mae, Student Loan Corp., Nelnet Inc. and other college loan companies plunging Thursday. For-profit vocational schools, such as Corinthian Colleges Inc., DeVry Inc. and ITT Educational Services Inc., also saw their stock prices drop. Their students often rely on government-backed loans from private lenders.
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BUSINESS
February 27, 2009 | Tiffany Hsu
President Obama's proposal for direct government funding of student loans -- cutting out private industry -- sent shares of Sallie Mae, Student Loan Corp., Nelnet Inc. and other college loan companies plunging Thursday. For-profit vocational schools, such as Corinthian Colleges Inc., DeVry Inc. and ITT Educational Services Inc., also saw their stock prices drop. Their students often rely on government-backed loans from private lenders.
BUSINESS
February 19, 1993 | From Reuters
President Clinton's plan to phase in direct government lending to students sent the shares of companies active in the business into a virtual free fall Thursday. Investors feared that the plan--called a "national service loan" by Clinton in his speech Wednesday night--would ravage the business of the Student Loan Marketing Assn. as well as Student Loan Corp. Sallie Mae dropped $9.375, or 17%, to $47.25 and was the most actively traded issue on the New York Stock Exchange, with more than 3.
BUSINESS
September 18, 2010 | Reuters
Citigroup Inc., looking to reduce assets outside its main businesses, is selling Student Loan Corp. to Discover Financial Services in a complicated deal that will reduce the bank's assets but also result in a $500-million charge this quarter. Discover is paying $600 million for Student Loan Corp., which is 80% owned by Citigroup. Just before the transaction closes, Student Loan Corp. will sell $28 billion of federally guaranteed loans to Sallie Mae and $8.7 billion of private student loans to Citigroup.
BUSINESS
February 23, 1988
United Education & Software in Encino said it agreed to continue processing payments for the California Student Loan Finance Corp., a private company that buys student loans. United Education, which primarily operates trade schools, said it could receive more than $100 million in service fees over the 10-year life of the contract.
BUSINESS
November 3, 2008 | Scott J. Wilson
www.adventuresineducation.org -- For many, the first test of college is figuring out how to pay for it. College applicants and their parents face a bewildering array of grant, loan and scholarship programs, each with its own application and qualification process. Adventures in Education, a nonprofit program run by the Texas Guaranteed Student Loan Corp., can help guide you through the financial aid maze.
BUSINESS
March 11, 1989 | From Financial Times of London
Several Japanese banks said Friday that they were considering legal action against BankAmerica to recoup several hundred million dollars they expect to lose in a badly managed U.S. student loan program plagued by computer software problems. A group of Japanese banks and Citicorp, the largest U.S. bank, had issued letters of credit to guarantee notes sold by the California Student Loan Finance Corp. The quasi-public body packaged student loans and sold them in U.S. credit markets.
NATIONAL
September 8, 2007 | Nicole Gaouette, Times Staff Writer
Congress on Friday approved the largest overhaul of education funding in more than 60 years, a $20.9-billion program that would boost financial aid to students and reduce interest payments on their loans. Students who enter certain public sector jobs would have their debts erased under the plan, the total cost of which would be offset by slashing government subsidies to lenders. It also calls for a $510-million investment in minority colleges.
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