Sallie Mae rallies over jobs in Fishers

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Sallie Mae CEO Al Lord visited the company's Fishers office this morning in his latest effort to get the word out that his business and his employees' jobs are threatened by a government proposal.

The Virginia-based private student lender, which employs 1,600 in Fishers and 700 in Muncie, fears massive job cuts from President Barack Obama's plan to bring student lending under government control.

Sallie Mae and other lenders that create and manage student loans would no longer receive government subsidies and would be relegated to just servicing the loans. The Obama administration says the plan would save the government $47 million during the next 10 years.

If the plan is approved by federal lawmakers, Sallie Mae said it could cut about one-third of its 8,500 employees nationwide and close some offices.

Jon Kroehler, a Sallie Mae vice president and the company's top executive in Indiana, is uncertain how many jobs could be affected in Indiana, however.

"It would force the company to take a fresh look and go through a complete restructuring," Kroehler said. "Indiana is definitely the state in which the largest number of employees lives today."

Sallie Mae and other private lenders counter that the government could save as much money by allowing them to continue originating loans but no longer receive federal subsidies.

The rally at the Fishers office follows another the company conducted yesterday with employees at its Muncie location. The events weren't open to the public, but some public officials were invited to talk to employees.

"They understand that there is a critical decision being made by Congress right now that impacts their jobs and the way student loans are delivered in this country," Kroehler said.

Lawmakers could vote on the proposal in November during budget proceedings.


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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?