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Private Sector Layoffs Expected Following Passage Of Education Reform

April 2, 2010 by  

Private sector layoffs expected following passage of education reform Responding to the Obama administration’s education reform legislation, which was passed in conjunction will the highly controversial healthcare bill, officials with the student loan giant Sallie Mae told Fox News on Tuesday that layoffs in the private sector are imminent.

"The student loan provisions buried in the healthcare legislation intentionally eliminate valuable default prevention services and private sector jobs at a time when our country can least afford to lose them," Conwey Casillas, vice president of public affairs for Sallie Mae, told the news source.

As part of the new bill, known as the Healthcare and Education Affordability Reconciliation Act, the federal government will bypass financial institutions and will begin lending directly to students, effectively eliminating a large percentage of Sallie Mae’s dwindling profits.

Meanwhile, Obama continued to express his disdain for large banks and other financial institutions, referencing the fact that Sallie Mae spent $3 million last year to lobby against the legislation.

Casillas estimated that the student loan powerhouse will be forced to layoff approximately 2,500 employees by the summer to compensate for their expected losses.
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  • http://victorbarney@embarqmail.com Victor L Barney

    Back in 1966 I took about 15 months of College courses in Connecticut with a Business major. I’ve since ended with a Masters in Applied Behavioral Analysis and have since recently retired at the age of 62 years old after being laid-off in Florida. The point that I want to make is that after 30 years of further education and work related experience in 3 states, I never came across absolute truth until I heard of a person who believed what I believed to be true when I read the Set-Apart Scriptures in the Bible. After meeting this person a few years ago, he since has taught me how to read the entire Bible with undeniable correctness that can not be clinically disproved by anybody!
    If anybody doubts what I say, contact Gary Miller at email: info@icyahweh.org;or mail: P.O. Box 208, Pocahontas, AR 72455.

  • http://www.MumblingRepublican.com Radio UpNorth

    Having heard repeated stories of collection abuse, why would anyone be sad that the $65 million dollars aved by gettin rid of these people and putting it back into the monies that students can get directly from the government?

  • Norman

    So we can now suck at the teat of the government on yet another part of our lives? Where does this dependency on the GOVERNMENT end?

    You have to remember how these company’s came into being the Government did turn a blind eye to what they were and are doing after THEY THE GOVERNMENT passed laws to regulate them.

    Maybe the GOVERNMENT needs to start FIRING Employees? Or Should the American people start firing the GOVERNMENT?

  • http://www.personalliberty.com/news/pediatric-patients-with-chronic-pain-look-to-acupuncture-19609231/ James A Graham

    RECENT VIRGINIA CHURCH SERVICE -STIMULUS SERMON

    I would love to give the Pastor of this predominantly black church in Virginia a hug and a high five.
    Turn with me in your Bibles,
    if you will to the 47th chapter of Genesis, we’ll begin our reading at verse 13, and go through verse 27.

    And Pharaoh nationalized the grain harvest, and placed the grain in great storehouses that he had built. So the people brought their money to Pharaoh, like a great tax increase,

    So when they went to Pharaoh after that, they brought their livestock, their cattle, their horses, their sheep, and their donkey – to barter for grain,
    But the famine wasn’t over, was it? So the next year, the people came before Pharaoh and admitted they had nothing left, except their land and their own lives. “There is nothing left in the sight of my lord but our bodies and our land. Buy us and our land for food, and we with our land will be servants to Pharaoh.” So they surrendered their homes, their land, and their real estate to Pharaoh’s government, and then sold themselves into slavery to him, in return for grain.
    That turning to the government instead of to God to be our provider in hard times only leads to slavery?
    Yes.
    That the only reason government wants to be our provider is to also become our master?

    Yes.

    But look how that passage ends, brothers and sisters! Thus Israel settled in the land of Egypt, in the land of Goshen…And they gained possessions in it, and were fruitful and multiplied greatly.” God provided for His people, just as He always has! They didn’t end up giving all their possessions to possessions to government, no, it says they gained possessions! But I also tell you a great truth today, and an ominous one.

    We see the same thing happening today – the government today wants to “share the wealth “once again, to take it from us and redistribute it back to us. It wants to take control of healthcare, just as it has taken control of education, and ration it back to us, and when government rations it, then government decides who gets it, and how much, and what kind. And if we go along with it, and do it willingly, then we will wind up no differently than the people of Egypt did four thousand years ago – as slaves to the government, and as slaves to our leaders.

    And a lot of people like to call Mr. Obama a “Messiah,” don’t they?

    Well, I tell you this, I know the Messiah; the Messiah is a friend of mine; and Mr. Obama is no Messiah! No, brothers and sisters, if Mr. Obama is a character from the Bible, then he is Pharaoh.

    Bow with me in prayer, if you will.

    Lord, You alone are worthy to be served, and we rely on You, and You alone.

    We confess that the government is not our deliverer, and never rightly will be.

    Give us hearts to seek You and hands to serve You Lord, and protect Your people from the atrocities of Pharaoh’s government.

    In God We Trust.

    • Signwatcher

      Amen and amen!

  • s c

    Radio, how can you put absolute faith in people who specialize in lies? Do you really think Obummer has saved ANYTHING?
    Apparently, because Haavid has economics professors, you think Obummer is a world-class expert on the topic. On his best day, Obummer is a rhinestone fakir. His arrogance knows no bounds, and you’re happy to let him get away with it.
    Open your eyes, am/fm. Obummer comes from a long line of liars (career politicians). When the time comes, he’ll throw you to the sharks, knowing that you served your ‘purpose.’ To Obummer, he’s #1. He’ll do what he has to do to survive – at AMERICA’s expense. Enjoy your bliss, but DO NOT expect the rest of us to pay for it (literally or figuratively).

    • Pat R

      S C:
      Have you heard how Obama has already hung Reid out to dry? After Reid worked so long, sleazy and under-handed to pass the Health Care Bill,
      Obama put a halt on the Nuclear work that was set to start in Nevada.

  • Char

    Government that has control of the money in our school also control what can be taught and you have no say. This is a power grab for more control of our children’s education. WAKE UP AMERICA.

  • chuck b

    if any politician in our government is truly interested in reforming our education system, they should start with the education of the teachers. the education of our teachers needs to be overhauled. we need to remove the unions from our schools. the unions are the stumbling block to the teaching profession, teachers should be judged on their ability not by union rules of protectionism and their influence on the schools curriculum, take the politics out of the classroom and teach the children the history of our country and the due respect, not how to overthrow it. lastly do away with the dept. of educ.

    • Warrior

      I still can’t for the life of me figure out why any level of government employee requires union representation??? After all the government knows what’s best for us so why would they potentially mistreat their own?

  • s c

    Warrior, by unionizing government jobs, an already corrupt government buys votes and then expects to
    count on those easy votes in the next election. Corrupt politicians do this to persuade union members that their elected ‘pals’ will always support them, and upper-level union members fool themselves into thinking they’ll get a slice of Washington’s power pie.
    It’s a mutual admiration society of morons who try to fool and manipulate those who should know better. It makes life complex, and the ones who benefit most are the ones who are already deeply
    entrenched in the nation’s Power Circle Jerk (Washington).

  • http://www.facebook.com Magee, Robert

    I really do not know why Americans refuse to follow the law as it reads and avoid unnecessary changes that force lay offs. I think lay offs are also another way of government saving money. Second, the private sector had taken for granted free money which they had failed to administer properly so that a cross section of many students seeking for loans could access these loans.

    Imagine one student seeking for the loan to do two moth classes which needs only perhaps a total of $798 to complete a semesters worth of classes,but the loan administrators ask for a whole years full course of 12 to 20 credit hours. A Course load the student is not intending to take because, the institution and the loan administrators work together transfer more funds to their institution.

    When that student is no longer interested to continue with more classes at that school the institution does not feel it is so important to refund not applied part of the loan. The unaware student moves on to another college takes new loan. Because the former college want to stay with the funds or excess not applied it so that the unaware student eventually is still charged the loan not aware that more funds were sent to institution.

    I think Americans need to support their government when they make wise changes saving a tax payer money. Instead of handing over the money to the private sector cut that and reduce the duplication process which is making loans expensive to manage.

    By cutting the middleman in delivering this essential service Government has also minimized duplication; which has for most part also been planning its own forms of discriminatory practices and measures. Why not simply supply the funds to the student direct and avail more loans to students rather taking off running expenses. Direct loans to students to the tune of the amount required for the subjects to be taken in that semester is in order. If more is required apply for more outright making loans less expensive anyway.

    The reforms are right and this will cut out increased bureaucratic red tapes privately administered. We will loose jobs but those jobs will be gained elsewhere. This is my view.

  • http://www.facebook.com Magee, Robert

    @ Norman this is your government you want your government to save money. So that you are able to see lower prices for agricultural produce, because government saved enough funds to subsidize our farmers or give them enough loans.

    A government that overspends will see its prices for commodities go up, energy rates go up and so. Government is not forcing us to beg from it it is trying to reduce entitlement expenditure for social services and those who lost their jobs be assisted to keep the economy going. This not a bad plan for you and every citizen concerned.

    • Joe H.

      Robert,
      If the government was looking to save money here they would have simply made an example of a couple of the loan officers and the rest would have toed the line! They were looking for another way to control our lives! That was the same reason they didn’t bring in tort control, cross state line competition for insurance companies and sending the states money to expand their medicaid services!!! they wanted control over our lives!!!Still think there’s no death panels?? When you cut 50 billion from medicare and there are seniors that have only that for their care, what do you think the outcome is going to be?? Good health care and long life??? give me a break!!!

  • http://www.facebook.com Magee, Robert

    CS I really do not believe we have absolute faith in government. But We do believe that those in office had better plans, and strategy to help us cope with our economic problems. They have not succeeded yet but that was the basis for which overwhelmingly elected for the opportunity to apply their strategy.

    I reject the notion that those in office are lies. The fact that their plans have not yet worked does not make them lies. The generalization that politicians are lies does not follow either. It is a mistake to put too much emphasis that our leaders are lairs. We elect people not saints people can make mistakes and so far i have not seen major mistakes from Mr Obama.

    While those in office may make mistakes we are entitled to opinion that some plans have helped maintain the economy and therefore, some plans have worked and some haven’t. It does not make any Republican or Democrat a lie to that extent.

    Being too skeptic against government is what is wrong in my view. We need to work with government to eliminate too much frustration we are encountering or facing within the system of things.

    Washington DC may not be aware of individual problems of each citizens or resident but most things government does are in fact good for the country and we must be happy we have a government in America which understands what is is important.

    • DamnYankee

      A man, or woman, can be judged by the company he/she keeps. For example,in Michelle Malkin’s book, Culture of Corruption, she lists the fallen among his “Greatest Transition in World History as: Bill Richardson (Corruption scandals), Tom Daschle (taxes,ethics), Nancy Killefer (taxes), Annette Nazareth (allegations of incompetence), Caroline Atkinson (taxes), H. Rodgin Cohen (conflict of interest), Frank Brosens (“personal” reasons), Scott Polakoff (allegations of fraud), Jon Cannon ( ties to embezzlement scam), Charles Freeman (foreign gov’t cronyism).I could go on to include many of his cabinet and cronies of the vice president. Google Gary Locke,who gave billions in tax breaks to Boeing, became Commerce Secretary; Ron Sims who became #2 at the Dept. of Housing and Urban Development, David Axelrod. Obama’s top advisor, who ran fear-mongering campaigns in Ill., Hilda Solis,Labor Secretary, who failed to disclose she was director and treasurer of a union-promoting lobbying, Atty General Eric Holder, overrulling his own lawyers in the Justice Dept. over the issue of D.C. voting rights; thn we have “czars” which were never confirmed by the Senate; Environment czar Carol Browner, Auto czar Steven Rattner,Health czar Nancy DeParle, Urban czar Adolofo Carrion. This is but of few of those surrounding the president and vice president. If you really want to know who is in charge of the different dept, who are #2 in command of the dept., who are the lobbyists, who has their hands in your pocket, read.Be informed who really is behind the scene.

  • http://www.facebook.com Magee, Robert

    Joe Thanks for your comment. I still believe the government has done the right thing to reform education funds. It is not trying to control us. It is giving us a voice in public money. I was involved in reporting what I felt was wasteful of public money while taking classes with DeVry Institute of Technology then Now DeVry University almost 20 years ago. Mr Obama was not known then a few loan officers went to jail in Texas.

    I believe that was the case but we never follow some of these things closely. But the same law you want to use against loan officers also protects them. Spending too much money trying to prosecute people rather than simply reforming the system will show lack ideas in what government does.

    All loan officers needed to do was to be honest. For instance return funds as stipulated by law. Any funds not applied must be refunded or transferred to the other institution where the student is taking remaining courses.

    The rule of law is important and ethical behavior will save institutions of higher learning money. Outright theft just because it is public money is wrong in my view but not all things appearing to be wrong are wrong under the law. Accounting of figures can be tricky and deceiving at times if involved people want to crunch figures to hide an accounting issue.

    Reforming on how students access loans is a good policy. Make it easy for students to get loans and make it easy for them to begin repaying the loans back. When you borrow money it is important that the capital be repaid so that it can be available to younger generations to access it for their needs just as the earlier generation did.

    Joe the states do make the union and they have power over their Federal Government so their decisions sometimes must count. If States feel that there should be and ought not be law suits hampering insurances companies that should be the judgment unless such judgment is breaking the Federal Law and the Anti Trust laws for which the states stand for.

    Government whether National, State or local always try to find ways to be on top of a situation facing society and that is only on behalf of society.

    The ultimate motive is not to control the citizenry and residents but to control problems the citizenry is likely to face expanding risk to others in society. So that government can face less of the evils confronting society it must be on top of things and we tend to think it wants to control us.

    You particularly seem to think that there is conspiracy in Washington DC to control us but such conspiracy does not exist. Or you would not find heated debates between Republicans rejecting health care law because it is disadvantaging the position they occupy in their philosophy of governing.

    As opposed to Democrats who also somehow a different philosophical look. But if examine the whole health care deal it does not help poor people at all. Middle class will be forced to buy insurance as if they have control of everyone.

    One can decide to buy European or Indian insurance and when someone needs an exam get on the plane and go to London or New Deli to be treated and come back that same day from an insurance company not allowed to compete for customers here in the United States.

    American Government rejects competition by giving Insurance companies protection under the Anti Trust laws status and yet we are asking countries to remove trade barriers to allow open trade meanwhile we have these administrative measures it uses against other foreign insurance companies which cannot operate in the United States.

    It is in my view a contradiction of American capitalist culture. But to say that Washington DC government is planning control over the citizens is highly unlikely because the states have a voice at the table.

    The president pursues only policies Governors have voted for and accepted as a policy trend in their major policy meeting. A few governors may reject or oppose certain policy to get more for their states but a majority must support the President for the Presidents policy to even sail through congress with some support.

    Unless there is something I do not understand Joe I think I must decline your view as utterly baseless for now unless I find evidence to support your view.

    • Joe H.

      Robert,
      Why the holy hell would I want to leave this country that has the best of health care available to get care from a Dr??? I would have to be midless!!! I have seen the health care in other countries and don’t care to avail of it thank you! As far as the government controling our lives, had you asked me fifteen years ago, I would have said the same as you. There are too many indicators to ignore now! Obama is out to radically change this country from a basic freedom loving proud country to one that is appologetic to the whole world and are slaves to the lawless element! We are heading to a majority of people feeding at the government teat and it is not what my country of birth was meant to be!!!

  • http://www.facebook.com Magee, Robert

    @Warrior and @SC: You have indeed a convincing thought on your part that you cannot trust government at all, Why do you expect Government employees to continue,trusting it when there is every conventional wisdom and reasoning that you should not and ought not trust it. I will tell why 401(K) and other pension funds are the case in point. Where if you have major bargaining power you have a clear voice. Without a Union negotiating is from a weaker position. Don’t you support those who are stakeholder even at state funds or public company to have a say on their equal share of capital? Civil servants are no longer mere employees if they have paid into government capital for which government must repay them back at a later date.

    • Joe H.

      Robert,
      My wife works for a company that offers about frive different insurance plans, a 401K with match, stock option,good pay, dental, optical, and she now gets six weeks vacation. She is salary, but all of these benefits are also offered to hourly employees as well. what’s my point? It has never had a union and you could not talk the employees into one!!!

      • Claire

        Joe H–The company I work for has never had a union either. Don’t want one. Unions only cause trouble. This company has been in business since 1927. And I have worked for them for 40 years and still going. And I am still working because I want to, besides I have 8 dogs to take care of!! Food, vet care, and showing them takes money and this happens to be my hobby. I have one in Florida right now and she took Best of Breed today!! Hooray!!!

  • http://gmail i41

    Robert Magee, if you need to have a union to negoiate, either you are a poor employee or a sorry bunch of lazy butts, who cann’t find another job and needs someone to think and talk for them! Just like most government employees, educated with out any common sense. And now we are going to have another bunch of trained theorist that don’t have a clue of how to create anything that is useful, except some more paperwork and create a mess in society. Professor Odumbazz is a prime example, great reader and speaker, but has no experience in the real world, outside of asphalt jungle and theories he learned from some other trained idoits in colleges. Of course he was able to read all the socialist communinists who he adores and wish to emulate.

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