Student lender Sallie Mae CEO Albert Lord says loan losses to remain elevated into 2010

October 1st, 2009 Obama officials to discuss Chicago student beatingWASHINGTON — President Barack Obama is sending Attorney General Eric Holder and Education Secretary Arne Duncan to Chicago next week to discuss the recent beating death of a 16-year-old honors student. White House press secretary Robert Gibbs says Holder and Duncan will meet Wednesday with school officials, students and residents and talk about school violence.

September 30th, 2009 Security beefed up at Chicago school after beatingCHICAGO — Chicago police say they're bolstering security around a high school on the city's South Side after a student was beaten to death. But they are declining to give details on the security plan for Fenger High School.

September 30th, 2009 Teens charged in beating death of Chicago studentCHICAGO — Prosecutors have charged three teenagers with first-degree murder in the beating death of a Chicago student who was walking home from school. Family members believe the victim, 16-year-old Derrion Albert, was fatally beaten Thursday for refusing to join a gang.

September 17th, 2009 House passes overhaul of college aid programWASHINGTON — The House has voted in favor of the biggest overhaul of college aid programs since their creation in the 1960s — a bill to oust private lenders from the student loan business and put the government in charge. Thursday's vote was 253-171 in favor of a bill that fulfills an array of President Barack Obama's campaign promises, ending subsidies for private lenders, boosting Pell Grants for needy students and paying for community college reforms, among other things.

August 27th, 2009 Moody's mulls downgrade for Sallie MaeNEW YORK — Moody's Investors Service said it is considering downgrading long-term ratings for the nation's biggest student lender, Sallie Mae, citing earnings and cash-flow generation at the company. Sallie Mae, formally called SLM Corp., faces significant uncertainties over the political and consumer lending environment for student lenders, Moody's also said.

August 17th, 2009 Fed survey: bank lending tight through mid-2010WASHINGTON — The Federal Reserve said Monday most banks expect their lending to remain tight through the second half of next year, with the exception of mortgage standards, which already are loosening a bit. The Fed's latest survey of loan officers found that about 20 percent of U.S.

July 21st, 2009 Sallie Mae 2Q loss attributed to investment lossesDES MOINES, Iowa — SLM Corp., better known as Sallie Mae, said Tuesday investment losses pushed it to a loss for the second quarter. The nation's largest student lender reported a loss of $123 million, or 32 cents per share, compared with profit of $266 million, or 50 cents a share, a year earlier.

July 15th, 2009 Bill would spend more to make college affordableWASHINGTON — President Barack Obama's plan to dramatically increase college student aid took its first step Wednesday on what could be a rocky path through Congress. A key lawmaker proposed a bill to boost Pell Grant scholarships for low-income students by linking them to inflation for the first time since the program began.

June 18th, 2009 Sallie Mae shares soar on government contractNEW YORK — Shares of Sallie Mae soared in premarket activity Thursday after the Department of Education selected the student lender and three other companies to service parts of $550 billion in outstanding federal student loans and future loans owned by the government. Reston, Va.-based Sallie Mae, officially called SLM Corp., is the country's biggest student lender.

June 18th, 2009 Sallie Mae awarded gov't loan-servicing contractNEW YORK — The Department of Education says Sallie Mae and three other companies were chosen to service parts of its $550 billion in outstanding federal student loans and future loans owned by the government. Reston, Va.-based Sallie Mae, officially called SLM Corp., is the country's biggest student lender.

June 18th, 2009 Sallie Mae shares gain on government contractNEW YORK — The Department of Education has selected student lender Sallie Mae and three other companies to service the $550 billion in outstanding federal student loans and future loans owned by the government. Reston, Va.-based Sallie Mae, officially called SLM Corp., is the country's biggest student lender.

June 8th, 2009 Qwest, McDonald's, DuPont, Palm are big moversNEW YORK — Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Qwest Communications International Inc., down 24 cents at $3.93 The phone company canceled the auction for its long-distance data and telephone network, saying the asset held more value than the amount it would raise in a sale. McDonald's Corp., down $1.15 at $58.72 The fast-food chain's May same-store sales rose 5.1 percent, but U.S.

June 3rd, 2009 Toll Brothers, Sallie Mae, JetBlue are big moversNEW YORK — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Toll Brothers Inc., down $1.29 at $18.24 The luxury homebuilder said it lost $83 million in the second quarter as sales dropped by half and didn't give a profit outlook. Williams Sonoma Inc., down $1.20 at $13.50 The upscale home decor chain posted a loss in its first quarter as sales tumbled 22 percent, but reiterated its forecast for the year.

April 23rd, 2009 Sallie Mae narrows 1st-quarter lossBOSTON — Sallie Mae, the nation's largest student lender, narrowed its loss in the first quarter, despite government efforts to stabilize short-term debt markets that Sallie Mae says hurt its results. Sallie Mae, formally called SLM Corp., reported Wednesday a first-quarter loss of $21 million, or 10 cents per share.

March 1st, 2009 NEW DELHI - Public sector lender Punjab National Bank (PNB) has lowered interest rates for car loans by 50 basis points, effective from Sunday. 'The interest rate on car loan would come down from 11-11.5 percent to 10.5-11 percent, with effect from March 1,' PNB said in a statement Saturday.