Sallie Mae, Exploiter of students looks for friends.

http://www.opensecrets.org/news/2009/09/sallie-mae-finds-friends-as-ma.html

Sallie Mae Finds Friends As Major Student Loan Bill Moves Through Congress.

yes Sallie Mae, the biggest exploiter of students is once again trying to ensure that it will have another generation of students to victimize.

Although Sallie Mae -- officially known as SLM Corp. -- didn't get the result it wanted out of the House, the lawmakers who sided with Sallie Mae have collected more money, on average, than those who voted for the bill, the Center for Responsive Politics has found.

SLM, which was formerly a government-sponsored entity, dumps cash into politics, spending $2.1 million on lobbying during the first half of this year and giving the current crop of legislators $2.9 million since 1989 (including contributions to both candidate committees and leadership PACs).

The 171 lawmakers who voted against the direct federal loan program have during the past 20 years collected $2,986 more, on average, from SLM Corp. than the 253 who voted for the bill ($6,880 versus $3,894). The bill is formally known as the Student Aid and Fiscal Responsibility Act.

The most notable discrepancy in campaign contributions from SLM Corp. is to House Democrats. The four Democrats who opposed the legislation have brought in $32,721 more, on average, from SLM Corp. than the 247 who helped pass the bill ($36,650 versus $3,929).

Two of the Democrats to vote in the minority, Reps. Paul Kanjorksi of Pennsylvania and Allen Boyd of Florida, are among the top members of the House -- including members of both parties -- to benefit from SLM Corp. cash. The company has given Kanjorski $95,900 since 1989, more than all other lawmakers but two. Boyd comes in at No. 7, having collected $42,200 since he was elected in 1996.

The top recipients of Sallie Mae cash are both Republicans who support the current Federal Family Education Loan Program (FFELP). House Minority Leader John Boehner of Ohio has brought in $259,700 since 1989, while Rep. Howard "Buck" McKeon of California has collected $233,000 since he was elected in 1992. SLM Corp. is McKeon's No. 1 donor, while the private lender ranks among Boehner's top 20 donors over time.

SLM Corp. and other private lenders have tried to convince the government to keep FFELP program, arguing that eliminating subsidies to lenders would erode consumer choice and result in the loss of thousands of jobs. SLM currently collects big profits on Treasury-backed loans.

Yes, thats right. The idea behind Higher Education was to make it possible for people to afford to go to college, but how can they when they have parasites like SML corporation making millions off the backs of people who are only trying to improve their lot in life? SML is an ABOMANATION that must be eliminated.

Stop the exploitation of students. Abolish ALL government involvement in student loans and restore basic Consumer protections INCLUDING bankruptcy on existing loans.