The prospective investors are uncertain whether the deal will go through, Keefe Bruyette & Woods Inc. analyst Sameer Gokhale told Bloomberg. Early this month, the buyers, led by J.C. Flowers & Co., warned that "conditions" necessary for closing might not be met.
The reason is that President Bush and Congress want to cut education-loan subsidies by $16 billion to $19 billion. Reston, Va.-based SLM originates and services education loans.
Sallie Mae employs 2,300 workers in Fishers and another 500 in Muncie.