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Sallie Mae Wins Pact for U.S. Student Loans

Source: Posted By: Jon P...4596 days ago

BOSTON -- SLM Corp. won a crucial contract Wednesday from the U.S. Department of Education to service federal student loans.

The decision had been awaited by investors in the largest U.S. student-loan company, commonly known as Sallie Mae. It will provide income that would offset the loss in revenue stemming from the Obama administration's plans to rein in subsidies paid to student lenders.

"We are very pleased to be awarded the opportunity to apply our experience and expertise for the benefit....

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