SallieMae Drop Box

Sallie Mae, the largest private lender in the nations is about to be bought out by a consortium of private equity firms led by JC Flowers, including Bank of America, and JPMorgan. The buyout industry is not interested in buying Sallie Mae to make it easier and more affordable for people to go to college. They want to buy Sallie Mae because they think there are easy profits to be made, and much of that profit could come at the expense of middle class and low-income borrowers in the form of higher rates and more aggressive debt collection.

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