Home > News > More Jobs Lost Due To ObamaCare: Sallie Mae Blames 2,500 Layoffs on Obama’s Student Loan Overhaul

More Jobs Lost Due To ObamaCare: Sallie Mae Blames 2,500 Layoffs on Obama’s Student Loan Overhaul

ObamaCareSymbolI thought that ObamaCare was going to SAVE jobs and money.  So far its doing the opposite.

I’m lying.  I never thought it would save anything.

Powerhouse student loan provider Sallie Mae says layoffs are imminent as a result of President Obama’s new student loan overhaul.

"This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey Casillas, Vice President of Sallie Mae Public Affairs, said in a statement to Fox News.

Obama was at Northern Virginia Community College in Alexandria on Tuesday to sign the student loan changes into law. The new bill includes a provision for the government to begin directly lending to students, bypassing financial institutions like Sallie May that traditionally have provided the loans. Obama said that such institutions have soaked up billions in subsidies.

FOXNews.com – Sallie Mae Blames 2,500 Layoffs on Obama’s Student Loan Overhaul

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  1. Esoteric
    March 31, 2010 at 2:40 pm

    “Yes we can” should be changed to “Yes we did screw a lot of people out of jobs”

  2. April 24, 2010 at 1:08 pm

    The “jobs” at the publicly-traded SLM Corporation (“Sallie Mae”) never should have existed in the first place. The estimated $60 billion that will be saved by not handing over subsidies to for-profit corporations like SLM, NNI (Nelnet) and others will be better spent on increased grant aid to millions of college students. Millions more college graduates is more important and more productive use of the money than squandering it to pay for 2,500 $12 an hour call center jockeys. StudentLoanJustice.org

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