Word: maes
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
Student loans are a huge and surprisingly profitable business. Just ask the folks at the Student Loan Marketing Association nick named "Sallie Mae," which owns the debt of about one third of all educated people paying back college loans...
Chartered by the federal government in 1973 but operated as a private firm. Sallie Mae encourages banks and universities to make student loans by guaranteeing their security. Its most common tactic includes purchasing loans originally made to students from the banks themselves under the assumption that banks will lend more easily if a safety net exists to buffer the very risky and unprofitable market...
...Sallie Mae appears like a very altruistic fall guy for a good cause assuring that college students can get money for school. But with very conservative management practices and a corps of young highly aggressive officers. Sallie Mae last year made $66 million in profits while managing $6.7 billion worth of student debt, a 79 percent jump over 1982 itself a remarkable year with profits skyrocketing 109 percent over 1981 levels. But these profit motives have driven up the cost of student loans officials admit dampening the original goals of the agency...
What the Washington, D.C. based company does is hardly remarkable in itself. Sallie Mae is a "secondary market" for student loans a bank for banks that lend to students. Like any other bank it makes profits by charging borrowers more than what it costs to lend to them all with the government's blessing...
...Gary Cooper making an early film appearance in Wings (1927), and in a still from The Picture of Dorian Gray, we finally see what Dorian's naughty escapades did to that portrait in his attic. Sennett has the perhaps obligatory shot of James Cagney pushing a grapefruit in Mae Clarke's face from The Public Enemy, for example, but he also reproduced the film's less familiar last scene: Cagney's dead body lying at his brother's feet. Such surprises not only make for great movies, but for good books about great movies...