If the students of one’s Great Area got pupils of its very own, the new government’s character when you look at the student education loans considerably altered

If the students of one’s Great Area got pupils of its very own, the new government’s character when you look at the student education loans considerably altered

Under President Richard Nixon, Congress expanded the application during the 1972 through a quasi-political institution this new Student loan Marketing Relationship, or Sallie Mae to improve how much cash designed for college loans.

Sallie Mae is actually regarded as an enthusiastic enlightened extension out of Johnson’s system as it created a market having federally supported student loans. Banks loaned so you’re able to students, and Sallie Mae purchased the new financing on banks, raising the pool of money readily available for finance. Continue reading “If the students of one’s Great Area got pupils of its very own, the new government’s character when you look at the student education loans considerably altered”