What People Are Saying:
Christina Josefowicz
Pennsylvania
“Working at Sallie Mae has allowed me to purchase a home and start the family I always wanted. Sallie Mae is part of my family!”
What People Are Saying:
31 House Democrats
in a letter to Chairman Miller“Incorporating aspects of the existing infrastructure into the revised student loan program will minimize risks of a disruption in the availability of loans to students, minimize the costs borne by schools that would be required to transition from the current private sector-based program to Direct Loans, and maintain retail market competition as a means of promoting innovation and customer service excellence.”
What People Are Saying:
Andrea C.A. Leithner Stauffer
Director of Financial Aid, Bucknell University, in a letter to Sen. Robert P. Casey Jr.“I have been in financial aid for 20 years, and this is the first time that financial aid administrators have been asked, prompted, and urged to prepare for a huge system change at breakneck speed, even though it has not yet been signed into law.”
What People Are Saying:
Ben Gilman
Muncie, Indiana“My father, mother, sister and I have all worked for Sallie Mae; you could say it has become a family tradition. This company has given me and my family opportunities that not all families have. Recently I had a child, and this job has given me the skills and the drive for success that I need to provide my son with the life my parents provided for me. I am very fortunate for Sallie Mae.”
What People Are Saying:
Brenda Burke
President, Virginia Association of Student Financial Aid Administrators“We understand that President Obama’s higher education budget proposals may be considered through budget reconciliation. We fervently oppose such an approach. This topic is far too complex and the consequences too important to be considered under a process that limits debate.”
What People Are Saying:
CCCSFAAA
(California Community Colleges Student Financial Aid Administrators Association)“We want to make sure that such a shift will be advantageous and a benefit to students rather than result in delays and inconvenience. This concern arises from a question of whether or not the U.S. Department of Education (DOE) can handle the number of loans which will now be processed through COD, the federal processor. The Department has not had experience with the large loan volume which will now be their responsibility.”
What People Are Saying:
Christopher Coons
New Castle County Executive, in a letter to White House Sr. Advisor Valerie Jarrett“I appreciate the importance of expanding Pell Grants to help more needy students attend college and of stabilizing federal student loan programs in light of unprecedented challenges to global credit markets. At the same time, I am eager to work with the Administration to ensure that we do not unintentionally create more economic uncertainty for the hundreds of Delawareans work every day to help students and families pay for college.”
What People Are Saying:
Curtis C. Gaume
Director of Student Financial Aid, Canisius College, in a letter to the Senate HELP Committee“Institutional data and communications systems will have to be dramatically changed at a time when institutional budgets are extremely tight.”
What People Are Saying:
Desiree M. Johnson
Delaware Office“In today’s economy, I’m truly grateful to have a job with Sallie Mae.”
What People Are Saying:
Dr. David Mohning
Executive Director, Office of SFA and Undergraduate Scholarship, Vanderbilt University“You wind up losing competition, you wind up losing choice, you wind up losing value-added service…
That’s a very significant increase in volume and activity, processing, and everything that goes into the program that I’m not convinced the government is capable of handling.”
What People Are Saying:
Former HBCU Presidents and Chancellors
in a letter to Chairman Miller and Kennedy“We believe it is critical that programs and services enhancing financial literacy, student success support, college access assistance, and loan repayment success, which are currently provided by non-profit and state guarantors, be included in all Federal student loan programs and that those services not be optional but clearly delineated, legislatively mandated and paid for directly by the Federal Government.”
What People Are Saying:
Judah B. Sekscinski
Delaware Office“Working at Sallie Mae has made more than a difference in my life, it has made an impact. It is by working for Sallie Mae that I know that there are people in the world who really care about the welfare of others, even those who they do not know. Sallie Mae is more than just a student loan lender they are in the business of opening avenues for people to succeed in a world that is more competitive than ever.”
What People Are Saying:
Keith Reeves
President, Southern Association of Student Financial Aid Administrators“Our desire is you make you aware of grave concerns we have regarding the time of any possible changes. Current debate would implement 100% Direct Lending for loans disbursed after July 1, 2010. Our highest concern is the lack of lead time needed by over 4,500 institutions nationwide to convert to the Direct Loan Program…”
What People Are Saying:
Michael Bluel
Muncie, Indiana“I joined Sallie Mae in 1995 as a phone representative with just a high school education. While working full-time, I was able to take college classes around my work schedule and with financial assistance, tuition reimbursement and low interest FFLEP student loans, both provided by Sallie Mae. Today I have an undergraduate degree in Business-Information Systems and I am currently the Director of Administration for a Sallie Mae subsidiary. Sallie Mae has not only provided me a paycheck for the last 14 years, but an education and a career I am proud of.”
What People Are Saying:
Michael L. Lomax
President and CEO, UNCF“Small schools have for years depended for processing on the private lenders whose role under the President’s proposal will be diminished or eliminated, and they will find it difficult or impossible to absorb the administrative responsibilities that a Direct Loan plan will entail. They will also be hard pressed to afford the technology systems that will be needed to process direct student loans.”
What People Are Saying:
Mindy Bergeron
President, Western Association of SFA Administrators“There will be significant financial and administrative burden and likely subsequent confusion and processing risks associated with requiring thousands of postsecondary institutions to switch to an entirely new loan process for the 2010- 2011 academic year.”
What People Are Saying:
NAST Resolution
“NOW, THEREFORE BE IT RESOLVED, that the National Association of State Treasures urges the Administration and the Congress to explore new methods of helping students achieve their educational goals in a cost-effective manner by considering alternatives that include maintaining the successful components of the FFELP.”
What People Are Saying:
NCASFAA
(North Carolina Association of Student Financial Aid Administrators)“Eliminating the FFEL partnership will mean the loss of at least 35,000 jobs nationwide, with a ripple effect on thousands more. With the nation’s unemployment rate rising to its highest level in over 25 years, this is not the time to eliminate thousands of jobs.”
What People Are Saying:
Phyllis Mundy
Pennsylvania State Representative, in a letter to Senator Arlen Specter“I respectfully request that you strive to support alternative proposals to the Student Aid and Fiscal Responsibility Act of 2009 that will maintain choice, competition and superior service for students and preserve thousands of jobs here in Northeastern Pennsylvania.”
What People Are Saying:
Ralph Musto
Pennsylvania State Senator, in a letter to Education Secretary Arne Duncan“While I am sure it is not the Administration’s intention, it is my understanding that under the Administration’s current student loan proposal, these 1,300 jobs in my district could be eliminated. Given today’s economic environment and with unemployment in our region at 8.9 percent, these are jobs that Northeastern Pennsylvanians cannot afford to lose.”
What People Are Saying:
Richard Fumerelle
Arcade, NY“Working for Sallie Mae has been a great opportunity, especially in the Western New York area. My employment with Sallie Mae enables me to provide for my family, as well as give back to our community.”
What People Are Saying:
Shannon L. Guillory
President, Louisiana Association of Student Financial Aid Administrators“The majority of Louisiana schools currently participate in the FFEL program and we are concerned with what negative impacts a complete and immediate shift to Federal Direct would have on schools and students in Louisiana and similar schools across the nation… ”
What People Are Saying:
State, regional and national student financial aid associations
letter from current and former presidents“While change is needed and we are committed to working with you, we believe that we are too close to the 2010 school year to both meet our obligations to students and families and successfully make the necessary changes to support whatever changes the Congress makes to the Perkins and Federal Family Education Loan programs.”
What People Are Saying:
Susanne L. Hamilton
Delaware Office“I am often thanked by borrowers for helping them through a difficult time in their lives, trying to survive in a tough economy while living up to their obligations to repay their students loans. Sallie Mae offers borrowers many options and opportunities to manage their loans while still being able to afford their daily expenses. We understand the stress that people are under these days, so we work hard to find solutions to the borrower’s financial situation. Sallie Mae reaches out to people who want to succeed and gives them the tools to live the American dream.”
What People Are Saying:
The Star Press
Muncie, Indiana | “Student Loan Changes Not in Muncie’s Best Interest” | 08.21.09“President Obama’s quest to save money on student loans could prove extremely expensive for Muncie and Delaware County…. We hope Congress takes a close look at [the Community] proposal, before blindly passing the Obama recommendations that are part of the budget bill.”
What People Are Saying:
The Wall Street Journal
09.12.09“Turned off by customer service that’s good enough for government work, [schools] have voted overwhelmingly for the private lenders. But by next summer all new guaranteed loans would have to come direct from Uncle Sam. Many colleges see an administrative train wreck. [Direct loans from the Department of Education are] not a popular idea on campus. Loans directly from the feds have been available for decades, but the government’s poor customer service has resulted in most [schools] choosing private lenders.”
What People Are Saying:
Tony Huddleston
Fishers, Indiana“I have been here over 19 years now. Sallie Mae is such a part of my life, I can’t imagine not being here. I love what I do. I love the people I work with. I love knowing that what I do every day is helping someone else fulfill their dreams of a successful and happy future.”
What People Are Saying:
Trevor Foster
Delaware Office“Sallie Mae has taken a lot of financial stress out of my life and my family’s life. I no long worry about how I am going to take care of my wife and new daughter. I come to work and give my best effort every day and truly enjoy both my job and the people I work with. Sallie Mae moving to Delaware has been the opportunity I have been looking for over the past 4 years. I don’t know what I would do if I had not been given this great opportunity.”
What People Are Saying:
Troy Standish
Muncie, Indiana“Sallie Mae promotes a work-life balance, and allowed me to focus on my education and involvement in the community. This is just one more reason why Sallie Mae is more than just a paycheck for its employees.”
Jobs are on the Line.
With the economy in the doldrums, it is getting harder and harder for people to find a job. But in communities across the country, there are well-paying jobs that are in jeopardy, and it is not because of the weak economy. Politicians in Washington D.C. are considering legislation that would make all student loans government run, which could take hundreds of jobs out of their communities.
We strongly support the President’s call for student loan reform. But we can achieve smart, effective reform that’s in the best interest of students, parents, and schools without sacrificing jobs here.
