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Resource ID: #23104
Subject: Financial Investigations
Source: CBS News 60 Minutes
Affiliation: 
Date: 05/05/2006

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Description

Sallie Mae, started in 1972 as a government sponsored enterprise meant to "encourage private banks to loan to students who were considered to be a credit risk," pushed became a private lender in 1997. Since then, the stock price "has gone up almost 2,000 percent" and company executives have become among the highest paid in the nation. CBS' 60 Minutes investigates, and explores the question of whether it's appropriate for Sallie Mae to act as both a lender and a collector.

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