The Privatization of Sallie Mae and its Consequences
The Privatization of Sallie Mae and its Consequences - Thomas H ...
The Privatization of Sallie Mae and its Consequences - Thomas H ...
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<strong>Sallie</strong> <strong>Mae</strong> as a GSEEstablished 1972 to provide secondarymarket for guaranteed student loan program• Student loans small <strong>and</strong> hard to service• <strong>Sallie</strong> <strong>Mae</strong> could specialize in student loans <strong>and</strong>develop economies <strong>of</strong> scaleObtained substantial government benef<strong>its</strong>• More than other GSEs, e.g., authority to borrowwith explicit federal guarantee <strong>and</strong> from FFBCBO in 1979: 98% <strong>of</strong> <strong>Sallie</strong> <strong>Mae</strong> resourcessupplied by federal government2
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