July 2, 2008
Education Dept. Endorses Sallie Mae's Ties to USA Funds but Asks More Questions
Washington
The Education Department, after an internal review, has upheld its December 2004 decision to permit a contractual arrangement between Sallie Mae, the nation's largest student-loan company, and USA Funds, the nation's largest guarantee agency.
"We are confident with the decision, which was a legal one, and we find no reason to change or revisit it," James F. Manning, the department's deputy chief operating officer in charge of federal student aid, said on Tuesday in a written
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