January 23, 2008
Sallie Mae Will Quit Making Private Loans to Students With Low Credit Scores
By KELLY FIELD and PAUL BASKEN
Sallie Mae, the nation's largest student-loan company, has warned colleges it will no longer provide private loans to students with below-prime credit scores.
The company had planned to announce the change today, but it became public after one institution, the for-profit operator Corinthian Colleges Inc., revealed the decision on Tuesday in a regulatory filing.
"They will no longer make private loans available for
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