Sallie May hires Global USA to lobby federal government on federal loan program, funding

WASHINGTON

The nation’s largest student lender SLM Corp., better known as Sallie Mae, hired Global USA to lobby the federal government, according to a disclosure form.

The firm will lobby on a federal education loan program and budget issues, according to the form posted online Tuesday by the Senate’s public records office.

Sallie Mae is among a number of student lenders who have come under public and regulatory scrutiny over arrangements with universities in which schools received a share of the money that lenders made from loans to the schools.

In April, the Reston, Va.-based lender agreed to stop offering perks to college employees and to pay $2 million into a fund to educate students and parents about the financial aid industry, in a settlement with New York State Attorney General Andrew Cuomo.

Sallie May is being purchased by J.C. Flowers & Co and three other investors in a $25 billion deal, which recently cleared federal regulatory hurdles.

Under a federal law enacted in 1995, lobbyists are required to disclose activities that could influence members of the executive and legislative branches. They must register with Congress within 45 days of being hired or engaging in lobbying.

–Associated Press



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