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  LiveWire / College Forums / Financial Aid, Scholarships & Internships / Viewing Topic

Sallie Mae affirms outlook, warns of "train wreck"
Replies: 2Last Post April 17, 2008 4:31pm by Majo
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( Majo )


Soothsayer
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WASHINGTON (Reuters) - Sallie Mae (SLM.N), the largest U.S. student loan company, on Thursday affirmed its 2008 profit forecast, but warned of a "train wreck" in the $85 billion education financing market without urgent government intervention.

The company said it still expected "core" earnings of $1.70 to $1.80 a share for the year.

But Chief Executive Al Lord told analysts on a conference call: "We've been predicting something of a train wreck" in mid-2008 without prompt changes in a market hit by fallout from the subprime mortgage crisis and cuts last year in federal subsidies to student lenders.

As a result, Lord said Sallie Mae's new loans for the most part would lose money.

[...]


Source


Yikes...


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"Under the hardness of her facade a woman's heart is still beating."


4:29 pm on April 17, 2008 | Joined: May 2005 | Days Active: 298
Join to learn more about Majo Pennsylvania, United States | Straight Female | Posts: 6,733 | Points: 11,716
PimpMyHoes

Connoisseur
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they do my loans :(

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http://www.youtube.com/watch?v=snA727obT58

4:30 pm on April 17, 2008 | Joined: Dec. 2007 | Days Active: 133
Join to learn more about PimpMyHoes Virginia, United States | Bi-curious Female | Posts: 7,167 | Points: 7,580
( Majo )


Soothsayer
Reply
I used them last semester. I don't think I did this semester because they don't work with my currrent school but they'd be the first ones I'd go to if I needed a loan and could get it there.

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"Under the hardness of her facade a woman's heart is still beating."

4:31 pm on April 17, 2008 | Joined: May 2005 | Days Active: 298
Join to learn more about Majo Pennsylvania, United States | Straight Female | Posts: 6,733 | Points: 11,716
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  LiveWire / College Forums / Financial Aid, Scholarships & Internships / Viewing Topic