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Editorial Results (free)

1. Student Loan Borrowers Complain of Repayment Snags -

WASHINGTON (AP) – Federal officials have received more than 3,800 complaints in the last year from borrowers of private student loans, with common problems related to payment processing and requests for loan modifications.

2. Report: Economic Concerns Drive College Choices -

WASHINGTON (AP) – College costs are driving decisions about which schools to attend, what to study and even where to live, according to a report from loan giant Sallie Mae.

Parents no longer foot the largest portion of the bill, according to the lender's annual survey. That role goes to grants and scholarships, with student loans coming in third.

3. Sallie Mae to Split Into Two Companies -

Sallie Mae plans to split into two separate, publicly traded companies. The student loan giant also named John Remondi as its CEO.

Sallie Mae, formally named SLM Corp., said Wednesday that the two separate companies – an education loan management business and a consumer banking business – would help unlock value and boost its long-term growth potential.

4. Sallie Mae to Split Into Two Companies -

Sallie Mae plans to split into two separate, publicly traded companies. The student loan giant also named John Remondi as its CEO.

Sallie Mae, formally named SLM Corp., said Wednesday that the two separate companies – an education loan management business and a consumer banking business – would help unlock value and boost its long-term growth potential.

5. Citi Selling $1.6B Consumer Finance Assets to GE -

NEW YORK (AP) – Citigroup is selling $1.6 billion in retail sales finance assets to GE Capital as the bank continues to restructure its business to focus on core consumer banking operations.

6. New Study: College Savings Remains Family Priority -

DES MOINES, Iowa (AP) – Parents remain determined to save money for college even in the tough economy, but they're not always choosing the methods that give them the best bang for their buck.

7. Citigroup Shedding Student Loan Business -

NEW YORK (AP) — Citigroup says it is selling its student loan business and about $32 billion in related assets to Discover Financial Services and the student lender Sallie Mae.

The big banking company has been looking for a buyer for its 80 percent stake in the Student Loan Corp. for some time as it refocuses it operations. Citi was one of the hardest hit banks by the recession and credit crisis.

8. House Bill Would Boost Pell Grants -

WASHINGTON (AP) - The House has voted in favor of the biggest overhaul of college aid programs since their creation in the 1960s – a bill to oust private lenders from the student loan business and put the government in charge.

9. AP IMPACT: For-Profit Colleges Boost Lending -

Some of the nation's biggest for-profit colleges and vocational schools are boosting enrollment in tough times by making more loans directly to cash-strapped students, knowing full well many of them probably won't be able to repay what they borrowed.

10. Fed Lost $5.3B on Bear Stearns, AIG Holdings in Q1 -

WASHINGTON (AP) - The Federal Reserve lost $5.25 billion in the first quarter on the securities it acquired with last year's bailouts of Bear Stearns and insurer American International Group Inc., according to a report issued Wednesday.

11. Sallie Mae to Add 2,000 Jobs To US in 18 Months -

Sallie Mae reported Monday that it will bring 2,000 jobs to the U.S. within the next 18 months as it shifts call center and other operations from overseas.

The move is welcome news to the country’s jobless, whose numbers have climbed past 13 million.

12. New Student Loans Require Payments While in School -

NEW YORK (AP) - The running joke about student loans: Don't ever graduate, since you don't have to start paying them back until you do.

Starting Monday, that will no longer be the case for students borrowing from Sallie Mae, the nation's largest private student lender.

13. Sallie Mae CEO Hoping for Credit Thaw -

WASHINGTON (AP) - The chief executive of Sallie Mae said Thursday that despite government assistance, continued stress in the credit markets and the tough economy continue to weigh on the nation's largest student lender.

14. SEC Bans Short-Selling of Financial Stocks -

WASHINGTON (AP) – The federal government, trying to boost investor confidence in the face of a market crisis, took the dramatic step Friday of temporarily banning a practice of betting against financial stocks.

15. Lawmakers Ask Fed to Take Action to Bolster Student Loan Market Amid Financial Distress -

WASHINGTON (AP) - House members from both parties are asking the Federal Reserve to intervene and steady the shaken student loan market.

The request Monday came a day after the central bank answered a distress call from the credit market, with a pledge to supply a $30 billion line of credit to back up the assets of Bear Stearns & Co., the investment firm acquired at a fire-sale price by rival JPMorgan Chase & Co.

16. Sallie Mae Laying Off Workers Amid Financial Squeeze -

WASHINGTON (AP) - A $25 billion collapsed buyout offer and higher borrowing costs have prompted Sallie Mae, the nation's largest student lender, to lay off about 3 percent of its work force nationwide.

17. Sallie Mae Names New Officers -

RESTON, Va. (AP) - Sallie Mae, the nation's largest student lender, has named veteran banking industry executive Anthony P. Terracciano chairman of its board.

Former Sallie Mae Chairman Albert L. Lord, who held that title for three weeks, has been appointed vice chairman and will remain chief executive officer of the company formally known as SLM Corp.