To: Department of Education- Secretary Arne Duncan
It's Time to Break Up With Sallie Mae!
Tell the Department of Education to end its contract with Sallie Mae now!
Federal regulators just ordered Sallie Mae to pay $97 million in penalties plus restitution for violating multiple laws, including overcharging 93 percent of active duty servicemembers and mishandling borrowers’ payments to maximize late fees and penalties.
Despite mounting evidence showing how Sallie Mae has been ripping off federal student loan borrowers for years, it's still possible the Department of Education will renew its multimillion-dollar contract with the shady company next month.
Why is this important?
In partnership with Jobs With Justice’s Debt-Free Future campaign.
Secretary of Education Arne Duncan needs to hear from as many of us as possible that it's unacceptable for the Department of Education to be in business with a company taking advantage of taxpayers, students, members of the military and minority and low-income borrowers.
The current contract actually stipulates that violating federal law is grounds for termination, but we know the agency won't act without massive public pressure. So far, Secretary Duncan has only instructed his department to review "what appropriate actions, if any" should be taken against Sallie Mae. Seriously?
Tell Secretary Duncan there's just one appropriate action to take: Cancel the contract with Sallie Mae!