Sallie Mae

Sallie Mae spinoff Navient tries not to shrinkRestricted Content

July 12, 2014
J.K. Wall
Navient Corp., which employs 2,300 in its Fishers, Indianapolis and Muncie offices, is in the running for a big contract with the U.S. Department of Education even as the student-loan-servicing company faces criticism after admitting it overcharged military service members by millions of dollars.
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Sallie Mae, Justice Department in $60M settlement

May 13, 2014
Associated Press
Student lender Sallie Mae has reached a $60 million settlement with the Justice Department to resolve allegations that it charged members of the military excessive interest rates on their student loans, the federal government announced Tuesday.
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Sallie Mae expects split to have 'limited' effect in Indiana

May 30, 2013
 IBJ Staff and Bloomberg News
The student lender wants to separate its education loan management and consumer bank businesses into two publicly traded entities. The firm is a major employer in Indiana, with more than 2,600 employees at offices in Indianapolis, Fishers and Muncie.
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Analysts: ITT's woes are likely to worsenRestricted Content

January 12, 2013
J.K. Wall
Investors have dumped the already-depressed shares of ITT Educational Services Inc. after the operator of for-profit colleges shelled out $46 million for bad private student loans it had backed to help students pay the portion of its pricey tuition that federal loans won’t cover. With fewer ITT graduates able to find jobs, the default rates on these loans has spiked.
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ITT agrees to pay Sallie Mae $46M to settle suit

January 7, 2013
Scott Olson
Wall Street reacted unfavorably to the settlement Monday, as ITT shares fell as much as 22 percent, to $15 a share. Shares traded for more than $66 about 10 months ago.
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Sallie Mae plans to add 200 jobs in Muncie

July 27, 2012
The jobs are part of a $5 million expansion in which the company will add 20,200 square feet of space to its offices in Muncie. When finished next summer, the 75,000-square-foot facility will house 900 employees.
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Sallie Mae restructuring affects Indiana jobs

December 8, 2010
Kathleen McLaughlin
Student-loan giant lays off about 70 people in Fishers as part of national reshuffling.
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Sallie Mae consolidation bringing 350 jobs to Indiana

October 29, 2010
 IBJ Staff and Associated Press
Student-loan giant Sallie Mae will consolidate operations in Indiana as part of a company-wide restructuring, creating about 350 jobs at its existing facilities in Fishers and Muncie.
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Sallie Mae's job cuts spare Indiana, at least for now

April 28, 2010
 IBJ Staff and Associated Press
Sallie Mae says a new law that cuts banks out of the federal student-loan business is costing 2,500 workers their jobs in Florida and Texas, but the cuts won't hit Indiana in 2010.
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Approval of college-aid overhaul to shake Sallie Mae

March 22, 2010
 IBJ Staff and Associated Press
The legislation, piggybacked to the health care bill that passed Congress Sunday night, could also mean major job losses for Sallie Mae, which employs about 2,400 people in Indiana, including 1,700 in Fishers.
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Obama reforms not necessarily dire for Sallie Mae in IndianaRestricted Content

December 12, 2009
J.K. Wall
The plan to nationalize the federal student loan program threatens to force Sallie Mae to hack its network of 26 offices down to five. Yet the company's Indiana operations have several advantages that could help weather the cuts.
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Sallie Mae jobs are in jeopardy

November 7, 2009
There are 2,300 hard-working and well-paid professionals here in Indiana whose jobs are hanging in the balance while Congress debates a bill (H.R. 3221) that would eliminate the private student loan industry as we know it.
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Sallie Mae rallies over jobs in Fishers

August 21, 2009
Scott Olson
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.
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Credit crisis reverses student lender's growthRestricted Content

February 9, 2009
J.K. Wall
ISM Loans is waiting to re-enter markets after halting its lending, changing its leadership and cutting 100 workers.
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Credit-market turmoil casts uncertainty over ITT Educational ServicesRestricted Content

March 24, 2008
Tracy Donhardt
ITT Educational Services Inc. and other for-profit schools are facing a maelstrom of financial threats that analysts say could hurt student recruiting and profit margins--and already has driven stock prices down sharply. ITT shares are off 61 percent since hitting an all-time high of $131.82 in November.
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Local Sallie Mae executive leaving

December 27, 2007
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