Chairman Miller Statement on Private Buyout of Sallie Mae

Monday, April 16, 2007

WASHINGTON, DC -- U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, issued the following statement today on the sale of Sallie Mae, the nation’s largest student loan company, to JP Morgan Chase, Bank of America, and a group of private investors for $25 billion. 

"At a time when the integrity of our nation's student loan system has been called into question for many reasons, and given the checkered past of Sallie Mae, I will be interested - and the Congress will be interested - in learning more about how this new ownership will change their operations, and whether this is truly in the best interests of student borrowers and families who are working extremely hard to pay these loans back."

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FOR IMMEDIATE RELEASE
Contact: Tom Kiley / Rachel Racusen
2181 Rayburn House Office Building
Washington, DC 20515
202-226-0853