Oversight of Student Loan Marketing Association (Sallie Mae): Hearing Before the Subcommittee on Education, Arts, and Humanities of the Committee on Labor and Human Resources, United States Senate, Ninety-seventh Congress, Second Session, on to Investigate the Activities of the Student Loan Marketing Association (Sallie Mae), Focusing on a Request for an Exemption Under Federal Priority for Recovering Money Owed the Association, August 12, 1982 |
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Page 3
... need for oversight on the Student Loan Marketing Asso- ciation . There may be many who wonder why we are locking the barn ... needs , and have proceeded to adopt new amendments because we did not done delay action that could result in ...
... need for oversight on the Student Loan Marketing Asso- ciation . There may be many who wonder why we are locking the barn ... needs , and have proceeded to adopt new amendments because we did not done delay action that could result in ...
Page 4
... need for more than a glimmering of understanding of Sallie Mae . We do not want the mystery to continue , and the inner workings of student loan mar- keting activities shall be clarified for all concerned . Mr. Chairman , I believe it ...
... need for more than a glimmering of understanding of Sallie Mae . We do not want the mystery to continue , and the inner workings of student loan mar- keting activities shall be clarified for all concerned . Mr. Chairman , I believe it ...
Page 11
... needs of students are being met most ef- fectively by having loan consolidation authority vested only in the ... need of students for consolidation loans been met by the Association ? Looking forward to a response to these questions at ...
... needs of students are being met most ef- fectively by having loan consolidation authority vested only in the ... need of students for consolidation loans been met by the Association ? Looking forward to a response to these questions at ...
Page 12
... need for special monitoring by the Department of Education or other federal agency to protect against emergence of prob- lems associated with the fact that the Association will be accountable only to itself as both the holder and ...
... need for special monitoring by the Department of Education or other federal agency to protect against emergence of prob- lems associated with the fact that the Association will be accountable only to itself as both the holder and ...
Page 14
... for Postsecondary Education , Michigan Department of Education . The continuing advice and counsel furnished to the corporation by these members concerning the special needs and interests of state lending and guarantee agencies have 14.
... for Postsecondary Education , Michigan Department of Education . The continuing advice and counsel furnished to the corporation by these members concerning the special needs and interests of state lending and guarantee agencies have 14.
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Common terms and phrases
$5 billion activities additional agreement amendment amount assets association's authorized Sallie Mae bankruptcy Board of Directors Chairman commitment Committee Congress Congressional consolidate loans corporation debt obligations December 31 Department of Education direct lender discount notes Education Assistance entities ERLENBORN Federal Financing Bank federal government financial institutions GSLP guarantee agencies guaranteed student loan HEAL loans Higher Education Act increase insured loans insured student loans interest income interest rate investments issue Jennings Randolph legislation lending loan consolidation Loan Marketing Association Longanecker Mae is authorized Mae's MCCABE million needs operations originator outstanding participation payments percent portfolio President priority profit provide liquidity put option questions reinsurance repayment response retained earnings return on assets secondary market Secretary of Education securities Senator RANDOLPH Senator STAFFORD September 30 servicing special allowance statute student credit Student Loan Marketing student loan program Thank tion U.S. Treasury bills uninsured
Popular passages
Page 44 - by any state, or any of the possessions of the United States, or by any local taxing authority. It is suggested that purchasers residing in states which impose intangible property or income taxes consult their
Page 46 - Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the statements mentioned above present fairly the financial position of
Page 54 - The obligations of the Association shall be deemed to be obligations of the United States for purposes of section 3701 of the Revised Statutes (31 USC 742). For the purpose of the distribution of its property pursuant to section 726 of title 11, United States Code, the Association shall be deemed a person within the meaning of such title.".
Page 153 - is a corporate instrumentality of the United States which is subject to the general supervision and direction of the Secretary of the Treasury. It is managed and operated by Treasury employees, who provide services to the FFB on a
Page 46 - and the related statements of income and retained earnings and changes in financial position for each of the three years in the period ended December
Page 46 - financial position for each of the three years in the period ended December 31, 1980, in conformity with generally accepted accounting principles
Page 46 - at December 31, 1980 and 1979, and the results of operations and changes in financial position for each of the three years in the period ended December 31,
Page 39 - conduct its business without regard to any qualification or similar statute in any state of the United States, including the District of Columbia, the Commonwealth of
Page 39 - is authorized to borrow from the United States Treasury, and the Secretary of the Treasury is authorized to purchase obligations of
Page 45 - be made at the Federal Reserve Bank of New York, 33 Liberty Street, New York, New York 10045.