Sallie Mae may get a lesson it will never forget


Is it the end the line for the $92 billion student loan industry?

A bill passed yesterday by the U.S. House of Representatives would effectively end the decades-long practice of the federal government subsidizing banks and other private companies such as Sallie Mae (SLM Corp. (SLM) to act as middlemen for student loans. Democrats estimate that the House bill would save about $80 billion over 10 years.

Originally published