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 14
... Higher Education Act of 1965 as a privately owned , for - profit corporation to be a secondary market for the ... institutions , seven are elected as a class by shareholders which are financial institutions , and seven are appointed by ...
... Higher Education Act of 1965 as a privately owned , for - profit corporation to be a secondary market for the ... institutions , seven are elected as a class by shareholders which are financial institutions , and seven are appointed by ...
Page 15
... institutions at such time as there are insufficient funds or legislative authority to provide adequate credit to students under existing federal or state programs . If non - insured programs are essential to provide access to higher ...
... institutions at such time as there are insufficient funds or legislative authority to provide adequate credit to students under existing federal or state programs . If non - insured programs are essential to provide access to higher ...
Page 31
... Higher Education Act during reconciliation , to provide that in the event of ... institutions participating in the guaranteed student loan program . During ... college education for many young people . Since Congress clearly intended for ...
... Higher Education Act during reconciliation , to provide that in the event of ... institutions participating in the guaranteed student loan program . During ... college education for many young people . Since Congress clearly intended for ...
Page 42
... Institutions : Joseph W. Barr David B. Harper Kenneth V. Larkin Charles H ... Higher Education , Louisiana Board of Regents , Baton Rouge , Louisiana Vice ... Higher Education . Oklahoma City , Oklahoma Technical Assistant , Educational ...
... Institutions : Joseph W. Barr David B. Harper Kenneth V. Larkin Charles H ... Higher Education , Louisiana Board of Regents , Baton Rouge , Louisiana Vice ... Higher Education . Oklahoma City , Oklahoma Technical Assistant , Educational ...
Page 50
... Higher Education Act of 1965 , as amended ( the Act ) , provided applicable program requirements are met with respect to such loans . Additionally , the selling institutions warrant that the student loans are the valid obligations of ...
... Higher Education Act of 1965 , as amended ( the Act ) , provided applicable program requirements are met with respect to such loans . Additionally , the selling institutions warrant that the student loans are the valid obligations of ...
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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 bond financing Chairman commitment Committee CONGRESS THE LIBRARY Congressional consolidate loans corporation debt obligations December 31 Department of Education direct lender discount notes eligible 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 Jennings Randolph legislation lending LIBRARY OF CONGRESS loan consolidation Loan Marketing Association Mae is authorized Mae's MCCABE million needs operations originator outstanding participation percent portfolio President priority profit provide liquidity questions repayment response retained earnings return on assets secondary market Secretary of Education securities Senator RANDOLPH Senator STAFFORD September 30 servicing statute student credit Student Loan Marketing student loan program tion U.S. Treasury bills uninsured Vermont warehousing advances
Popular passages
Page 50 - 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 52 - 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 149 - 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 52 - 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 52 - financial position for each of the three years in the period ended December 31, 1980, in conformity with generally accepted accounting principles
Page 60 - at the end thereof the following: "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 52 - 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 45 - 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 45 - is authorized to borrow from the United States Treasury, and the Secretary of the Treasury is authorized to purchase obligations of
Page 51 - be made at the Federal Reserve Bank of New York, 33 Liberty Street, New York, New York 10045.