no... but i'll look it up
Posted on 03/30/2010 7:31:40 PM PDT by kristinn
Powerhouse student loan provider Sallie Mae says layoffs are imminent as a result of President Obama's new student loan overhaul.
"This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey Casillas, Vice President of Sallie Mae Public Affairs, said in a statement to Fox News.
SNIP
"The student loan provisions buried in the health care legislation intentionally eliminate valuable default prevention services and private sector jobs at a time when our country can least afford to lose them," Casillas told Fox News.
Sallie Mae was trying to garner support for an alternative, which the company said was roundly rejected.
"We are profoundly disappointed that a reform plan that would have achieved more savings for students was ignored and now thousands of student loan experts will unnecessarily lose their jobs," Casillas said.
SNIP
Sallie Mae hasn't said exactly when jobs will start getting slashed, but the cuts "will start soon," Casillas said.
(Excerpt) Read more at foxnews.com ...
Most of the Indiana employees will be gone, according to local media.
Conwey Casillas...better be careful..or he/she will end up having to answer questions from Waxman, and his cronies.
The nightmare is just beginning.
On the face of it...maybe.
Although the devil is in the details...and this will be a total disaster.
12 years of work down the hole.
I'm too mad to continue
I wonder how they prevent defaults? Hire the students so they can make their payments?
OUCH!
bump
Hope and change.... He’s taking about $36,000 per year out of the revenue stream at my small credit union that have been done as a service for our members over the years. No doubt at least one job will be lost because of it and a service to the membership removed.
Just go from Sallie Mae to the govt sector. The govt will need all kinds of expertise in the student loan business. Instead of whining, people need to be smart nowadays.
He voted for Obama.
Payback’s a real b*tch.
You have hit the nail on the head. My job, aka “the private sector” is a barrier between the government and myself.
Obama can control WHO gets loans now. I’m guessing white kids will have a tough time finding tuition money.
Are you suggesting that the usurper in Chief is a racist?
Well, of course he is- he has more “issues” than the average American will ever have.
Yes, um yes, I am. Obama is pushing preferential treatment for blacks. Hitler encouraged preferential treatment for Arians. Lots of instances of government endorsed racism in history.
I was thinking that too.
no... but i'll look it up
“”My student loan is with them. Every time I’ve called in the last 6 months I’ve spoken with someone in India.””
I have parent plus student loans with Sallie Mae for my daughters and I noticed around 3 months ago when I went to pay online that my payment had went from $300.00 per month to $45.00 per month. I thought I hit the lottery. Sadly though ,I was sent an email just 1 week before my payment was due that the majority of the loans was taken over by “government Sallie Mae.” It happened that fast without any news or anything.Now I know why!
I had to create a whole new account to pay the bills and still have another account for the $45.00 payment that non government Sallie Mae owns.
What a mess!
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