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Best Moves in a Bad Economy Blog

By Kimberly Amadeo, About.com Guide to US Economy

The Federal government is planning to take over the student loan program from Sallie Mae, saving $94 billion over 10 years. This will make more loans available at a cheaper cost to taxpayers by eliminating the middle man and making loans at a lower rate that only the government can get. Sallie Mae is a private company makes student loan that are guaranteed by the federal government. This is similar to what Fannie Mae did for mortgages before it was nationalized last fall. Sallie Mae made $24.2 billion in loans last year.

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