Student Loan Company Sallie Mae to Split in Two
Consumer banking to be separated from education loan management
Student loan provider Sallie Mae said it will split the company into two publicly traded entities and named John Remondi as its chief executive officer.
Sallie Mae, the largest U.S. student lender, said it plans to separate its consumer banking business from the larger education loan management business as part of a plan to unlock value and enhance long-term growth potential.
The company, which trades under the formal name of SLM Corp., said the split will be undertaken through a tax-free distribution of common stock to its shareholders.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?