Private Sector Layoffs Expected Following Passage Of Education Reform


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.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.