Sallie Mae Lost $1.6 Billion in 4Q

“Our cost of funds and loan-loss expectations were impacted by weakening credit markets.”

WASHINGTON - Embattled Sallie Mae, the nation's largest student lender, on Wednesday reported a fourth-quarter loss of $1.6 billion as it slumped under heavy borrowing costs and set aside $575 million to cover ... via North County Times

[Firstsai]

They're just looking for a government bailout, and threatening to hold college kid's education for ransom. I say, let them go under. Of course, that would many a loy of colleges would go under also, but perhaps we have too man y now, and the ones that we do have, lost their focus and their souls a long time ago.