Philadelphia Inquirer:
Sallie Mae, the Virginia-based college-loan company with offices in Pennsylvania, is putting pressure on this state’s senators to reject reforms sought by President Obama.
But if Sens. Bob Casey and Arlen Specter believe in making a college education affordable for more children, they won’t cave.
The House has already passed legislation sought by Obama that would greatly reduce the middleman role played by lenders such as Sallie Mae in providing federally guaranteed student loans.
These lenders get government subsidies on top of the billions of dollars in interest and fees they collect from students.
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