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BUSINESS
Eileen Ambrose | July 23, 2013
Students are relying more on grants and scholarships than Mom and Dad to pay for college, according to a study released today from Sallie Mae. In its annual study of “How America Pays for College,” the giant lender said free money in for the form of grants and scholarships now pays 30 percent of the college tab. Four years ago, it was 25 percent. Sallie Mae said students now receive an average of $6,355 in grants and scholarships, compared with $4,859  in 2009. In comparison, parents now kick in 27 percent of college costs or an average of $5,727.
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BUSINESS
Eileen Ambrose | July 23, 2013
Students are relying more on grants and scholarships than Mom and Dad to pay for college, according to a study released today from Sallie Mae. In its annual study of “How America Pays for College,” the giant lender said free money in for the form of grants and scholarships now pays 30 percent of the college tab. Four years ago, it was 25 percent. Sallie Mae said students now receive an average of $6,355 in grants and scholarships, compared with $4,859  in 2009. In comparison, parents now kick in 27 percent of college costs or an average of $5,727.
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BUSINESS
Eileen Ambrose | February 3, 2012
Stef Gray launched an online protest against a $50 loan forbearance fee imposed by private student loan giant Sallie Mae. The fee is $50 per loan for a maximum of $150 per three-month reprieve on payments. Gray, who says she hasn't been able to find a full-time job since graduating last year, launched an online campaign against the fee. So far she's collected more than 78,000 signatures in support. Sallie Mae said yesterday it is revising the fee, adding that this was something it had been thinking about for some time.
BUSINESS
Eileen Ambrose | October 16, 2012
Thousands of consumers have complained to the Consumer Financial Protection Bureau about loan servicing and loan modification problems. Gripes include mistakes by servicers in applying payments, trouble fixing errors, an overabundance of paper work and the inability to find anyone at the servicer to help. Another mortgage mess story? No, this is about private student loans - although the regulator notes that both industries share similar problems. The Consumer Financial Protection Bureau released its annual report on private loans.
BUSINESS
By Eileen Ambrose | August 23, 2011
Student loan giant Sallie Mae released some interesting stats from its 2011 study of How America Pays for College. The average amount shelled out for college peaked at $24,097 in 2009-2010 academic year. Families are choosing less expensive schools, such as community colleges, and that figure has dropped to $21,889 for 2010-2011. High-income families reported the biggest reduction in bills, paying $25,760 in the past year, or an 18 percent drop from the year before. Middle-income families saw a slight dip from $22,628 to $21,347.
NEWS
June 6, 2008
On May 31, 2008, SALLIE MAE MCMILLAN of McCulloh Street. On Friday, friends may call at HARI P. CLOSE FUNERAL SERVICE, P.A., 5126 Belair Road from 4 to 7 P.M.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,Sun reporter | April 12, 2008
Noting turmoil in credit markets, student loan giant Sallie Mae said yesterday that it was suspending its participation in the federal consolidation loan program because it needed to save its resources to make loans to students entering school this fall. Borrowers still will be able to consolidate their loans, most likely through the federal government's direct loan program. Sallie Mae's pullback is the latest - and a significant - indicator of how fallout from the subprime mortgage mess is spreading.
BUSINESS
By KENNETH HARNEY | November 16, 2003
IN A MAJOR victory for young homebuyers, the country's largest student loan company, Sallie Mae, has agreed to resume reporting the credit histories of its 7 million borrowers to all three national credit bureaus. The move has special importance for younger buyers because their on-time student loan repayment histories often have disproportionately large impacts on their credit scores. Those scores, in turn, directly affect the interest rates, loan terms and fees they are quoted when applying for a mortgage to buy a home.
BUSINESS
By KENNETH HARNEY | October 5, 2003
COULD YOUR outstanding debt to Sallie Mae - the largest provider of student loans in the country - cause you to pay more on your home mortgage? Could that be the case even if your payment history with Sallie Mae has been perfect for years? The answer to both questions is a surprising yes. Though the company has not informed its 7 million-plus customers, Sallie Mae confirms that it has stopped reporting borrower loan repayments to two of the three giant national credit repositories. Nonreporting of on-time payment histories, in turn, can lower Sallie Mae borrowers' credit scores - sometimes by enough to render them ineligible for the best-available home loan rate quotes.
NEWS
By Staff Report | October 21, 1993
Steven A. Lockard, a Frederick County teacher who grew up in Westminster, is one of 100 winners nationwide of the Sallie Mae First-Year Teacher Awards.Mr. Lockard, 23, now lives in Rockville and is in his second year as a fourth-grade teacher at Green Valley Elementary School in Monrovia. He graduated from Westminster High School in 1988 and from Frostburg State University in 1992.His father is Brian Lockard, deputy superintendent of Carroll County schools and a former sixth-grade teacher and principal.
BUSINESS
Eileen Ambrose | June 13, 2012
When borrowers complain about student loan debt it is most likely they are talking about private education loans. And the Consumer Financial Protection Bureau has been getting an earful of complaints about these types of loans that don't have the consumer-friendly repayment plans that federal loans do. The CFPB, which has oversight over private student loans, has been collecting comments from borrowers for months for a report to Congress next...
BUSINESS
By Eileen Ambrose, The Baltimore Sun | February 12, 2012
Stef Gray recently delivered a petition to Sallie Mae's Washington office, asking the giant private lender to eliminate a fee that unemployed college graduates must pay to suspend payments until they find a job. The 23-year-old New Yorker's online petition had attracted 76,000 signers by the time Gray dropped it off. Within hours, Sallie Mae retreated. It's not getting rid of the fee. But rather than pocket the fees, Sallie Mae says that — starting with forbearances granted this year — it will apply the money to borrowers' balances once they get on track with payments.
BUSINESS
Eileen Ambrose | February 3, 2012
Stef Gray launched an online protest against a $50 loan forbearance fee imposed by private student loan giant Sallie Mae. The fee is $50 per loan for a maximum of $150 per three-month reprieve on payments. Gray, who says she hasn't been able to find a full-time job since graduating last year, launched an online campaign against the fee. So far she's collected more than 78,000 signatures in support. Sallie Mae said yesterday it is revising the fee, adding that this was something it had been thinking about for some time.
EXPLORE
November 30, 2011
Richard and Jan Kost, of Richmond, Va., formerly of Bel Air, have announced the engagement of their son, John "JP" Paul Kost, to Nicole Corrine Stevens, daughter of Roger and Diane Stevens, of Front Royal, Va. Nicole Stevens graduated from Warren County High School in Front Royal in 2002 and from Bridgewater College in 2005 with a Bachelor of Science degree in business administration. She was most recently a marketing analyst at Sallie Mae in Reston, Va. The prospective groom is a 1999 graduate of C. Milton Wright High School in Bel Air and a 2003 graduate of the U.S. Merchant Marine Academy at Kings Point, N.Y., with a degree in marine transportation and logistics.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 28, 2011
Sam Cameron says high school classmates used to give her "funny looks" when she told them she planned to go to a local community college after graduation instead of some prestigious four-year institution. But the 19-year-old, now in her second year at Montgomery College, says she chose the Rockville school because it offered a strong honors program with small classes — and a full scholarship. "It's a very good school," says Cameron, who lives at home with her parents in Ashton.
BUSINESS
By Eileen Ambrose | August 23, 2011
Student loan giant Sallie Mae released some interesting stats from its 2011 study of How America Pays for College. The average amount shelled out for college peaked at $24,097 in 2009-2010 academic year. Families are choosing less expensive schools, such as community colleges, and that figure has dropped to $21,889 for 2010-2011. High-income families reported the biggest reduction in bills, paying $25,760 in the past year, or an 18 percent drop from the year before. Middle-income families saw a slight dip from $22,628 to $21,347.
NEWS
By Phillip McGowan and Phillip McGowan,sun reporter | October 27, 2007
Albert Lord doesn't like to wait - not in business or on the golf course. The colorful chairman of student loan behemoth Sallie Mae, who's embroiled in a nasty fight over the failed sale of the company, has spent 40 years in the accounting and banking industries. He said that experience should have instilled in him a measure of patience, but it hasn't. Whether in traffic, at the office or on the links, Lord said, he just doesn't like to wait. He can't do much about the first two, but he's got a sure-fire solution for the last one: He's building his own, an 18-hole golf course on land he's acquired amid shuttered tobacco farms and grazing horses in southern Anne Arundel County.
NEWS
By ALAN COLLINGE | March 22, 2006
Remember the old adage, "You break it, you bought it"? Twice a year, financial aid lines at colleges and universities swell with middle- and lower-income Americans heeding the advice drilled into them from an early age: Go to college, get an education. Unfortunately, these students don't think twice about signing their student loan papers. In fact, most don't even bother to read the fine print - or the bold, for that matter. Most likely, these students will receive their loans from Sallie Mae. In the confusion with Ginnie Mae, Fannie Mae and Freddie Mac, most will wrongly assume that Sallie Mae is a government agency.
BUSINESS
November 21, 2008
City software firm won't pursue offering Metastorm Inc., a privately held Baltimore software provider, has pulled its public stock offering application. The 12-year-old company said it decided not to pursue the initial public offering due to "market conditions," according to a filing with the Securities and Exchange Commission last week. Weak economic conditions have blocked access to capital and credit. Metastorm, which provides software and other products that help businesses improve human and back-end processes and efficiency, had filed a registration statement in May to raise as much as $86 million through the offering.
NEWS
June 6, 2008
On May 31, 2008, SALLIE MAE MCMILLAN of McCulloh Street. On Friday, friends may call at HARI P. CLOSE FUNERAL SERVICE, P.A., 5126 Belair Road from 4 to 7 P.M.
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