January 24, 2008
New Cutback at Sallie Mae: No More Student Loans at Colleges With Low Graduation Rates
Sallie Mae, the nation's largest student-loan company, said it will stop offering loans to students at colleges with poor graduation rates.
The lender, which is struggling with financial difficulties, including a falling stock price, announced the change on Wednesday, one day after it was revealed that Sallie Mae would also stop making private loans—those given by banks without any federal subsidy—to students whose credit ratings are below prime.
The moves
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