September 16, 2005

Sallie Mae Drops Bid for Student-Aid Agency in Pennsylvania

By JEFFREY SELINGO

Sallie Mae, the nation's largest provider of student loans, has dropped its $1-billion bid to take over the Pennsylvania Higher Education Assistance Agency, at least for now.

In a letter to the agency's president, Sallie Mae's vice chairman and chief executive, Thomas J. Fitzpatrick, said the company had told Gov. Edward G. Rendell in April that the offer would expire at the end of August. "However," Mr. Fitzpatrick wrote, "we remain committed to continuing to explore a partnership

Print Subscription

Digital Subscription

Already have an account? Log In Now.