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Old 05-20-2009, 04:48 PM   #341
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Originally Posted by FIRE'd@51 View Post
I assume you mean a penny or two per 10,000 shares.

My spreadsheet gives:

ISM--$0.042737
OSM-$0.041709

Maybe they are paying us interest on the interest for the days that the payment is late.
I meant a penny or two for the gross interest that will land in my account. I guess your idea might be correct- I just figured it was close enough for these clowns and didn't consider what you said, though you may well be correct.

Ha
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Old 05-20-2009, 06:24 PM   #342
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Interesting SLM Webcast Today

Webcasts and presentations
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Old 05-21-2009, 09:49 AM   #343
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Got .04273 per share posted to my account today.

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Old 05-21-2009, 10:25 AM   #344
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I got $0.041717 posted to my account today , but the transaction is dated 5/15/2009. With fidelity.
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Old 05-21-2009, 12:06 PM   #345
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I got mine today also. Like Fuego, my deposit is backdated to 5/15. I am not sure if we will pick up MM interest on that week or not, though it hardly matters at today's rates!

Ha
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Old 05-21-2009, 12:37 PM   #346
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I am not sure if we will pick up MM interest on that week or not, though it hardly matters at today's rates!
Hey, I want my 0.2 cents! That plus another $1 and I can get a cheeseburger.
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Old 05-21-2009, 01:06 PM   #347
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Sallie Mae investor relations just returned my voicemail from earlier in the week. After the payment was posted to my account...
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Old 05-29-2009, 10:57 AM   #348
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Pssst... The OSM bid to ISM ask spread is sitting at $0.59 right now if anyone wants a little arbitrage from OSM to ISM for a quick couple bucks. I just did a few days ago, so I can't take advantage anymore. Enjoy!

Disclosure: I own ISM.
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Old 06-19-2009, 05:46 AM   #349
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While it's not clear how this will affect the future stock price of SLM, I see this as good news for ISM/OSM holders.

Sallie Mae shares rise after student lender awarded 5-year government loan-servicing contract
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Old 06-19-2009, 05:49 AM   #350
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Yes I think there is a decent chance we will get our money back.
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Old 06-19-2009, 08:40 AM   #351
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Yes I think there is a decent chance we will get our money back.

I don't know - that's only a 5 yr contract and my ISM/OSM doesn't mature for another 8 yrs or so.
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Old 06-19-2009, 10:47 PM   #352
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Yes I think there is a decent chance we will get our money back.
What a pleasant thought!
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Dark clouds on the horizon for SLM?
Old 07-15-2009, 10:05 AM   #353
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Dark clouds on the horizon for SLM?

This was being discussed earlier this year, but then the issue seemed to fade. Now it's back in the news again:

Quote:
The head of a key U.S. congressional panel will introduce legislation on Wednesday calling for ending a college student loan program that for years helped lenders such as Sallie Mae thrive.

The troubled Federal Family Education Loan Program, or FFELP, would be discontinued in July 2010 under a bill to be offered by Democratic Representative George Miller, chairman of the education committee of the House of Representatives.
link

I'm going to see if I can find out what % of SLM's income is related to FFELP. It'd be nice to know if this is a big deal or a little deal.
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Old 07-15-2009, 10:22 AM   #354
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This was being discussed earlier this year, but then the issue seemed to fade. Now it's back in the news again:

link

I'm going to see if I can find out what % of SLM's income is related to FFELP. It'd be nice to know if this is a big deal or a little deal.
I couldn't get the link to work. I would like to read this.

Found something on Yahoo. It seems that Rep. Miller is putting forth legislation to do what Obama said they were going to do. SLM is off slightly; ISM/OSM steady. I think as far as the debt is concerned, SLM should be able to survive as an originator/servicer. A much reduced role, but probably viable with a different culture. Also, the fat lady hasn't yet sung, so we don't know what the final shape of any legislation might be. If ISM/OSM were trading at 22-24, I'd be gone. But the risk reward seems different here. Or maybe I am just being stubborn about selling a loser in an IRA?

Ha
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Old 07-15-2009, 10:31 AM   #355
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I couldn't get the link to work. I would like to read this.

Ha
looks like some extra characters got into there, try this:


Lawmaker to back Obama student loan shake-up - Yahoo! News

here's another:

US lawmaker to back Obama student loan shake-up | Markets | Markets News | Reuters

try the tinyurls if those got chopped up:

Lawmaker to back Obama student loan shake-up - Yahoo! News

US lawmaker to back Obama student loan shake-up | Markets | Markets News | Reuters

anyhow, SLM down ~ 3% to 9.16 as I type... on an up day.

-ERD50
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Old 07-15-2009, 10:34 AM   #356
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I couldn't get the link to work. I would like to read this.

Ha
Here is the link.

I also saw a statement from Obama saying that $12 billion in new spending on a community college initiative would be paid for by "eliminating wasteful spending" on federal student loan lending. Ie - private loan providers.

But in the meantime, I just got another small interest payment from ISM.
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Old 07-15-2009, 10:46 AM   #357
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I see it down 11 cents, or a little over 1%. From this not much can be gleaned. Maybe if SLM wants better treatment, they should promote that their employees form a union?

I think most of us hold the debt, not the stock. All we have to do is limp home.

Ha
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Old 07-15-2009, 07:54 PM   #358
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Sorry for the broken link, thanks to fuego and erd50 for stepping up.

I looked through SLM's investor documentation and found that FFELP loans made up a little over 80% of their loan originations in Q1 2009, up from about 70% of loan originations in Q1 2008. The increase isn't a surprise given that private lending has gotten tighter, but the absolute percentages are higher than I'd expected. (The data is on p.38 of their Q1 2009 earnings supplemental, link to pdf). So in that sense the discontinuation of FFELP loans would be huge.

On the other hand, if SLM gets to play a role in the servicing of those loans, they'll probably survive. I found an article that claimed SLM now supports the expansion of the direct lending program, if they get to originate and service those loans. (For what it's worth, JP Morgan liked the prospect enough to upgrade their outlook on SLM.) It appears Rep. Miller's legislation would handle all originations through the Direct Lending program, but opens the door for SLM's involvement in servicing those loans (source):
Quote:
The legislation will ensure that all federal student loan borrowers receive the best possible customer service when repaying their loans by forging a new public-private partnership that allows private lenders to compete for contracts to service loans.
I wouldn't touch their stock with a 10 foot pole (except maybe to short it) but I'll keep the bonds for a while longer.
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Old 07-17-2009, 07:10 PM   #359
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A few pages back in this thread, we were all busy bashing SLM for paying an ISM interest paying incorrectly and having to withdraw it and then pay the correct amount. Well......... I guess the USA govt is following along the same path! My interest payment from my 2029 2.5% TIP was paid, withdrawn and repaid a couple of days ago. Guess our govt can't get it any better than SLM!
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Bill for Federal Takeover of Student Lending Clears House Committee
Old 07-24-2009, 02:12 AM   #360
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Bill for Federal Takeover of Student Lending Clears House Committee

washingtonpost.com

Looks worrier and worrier. SLM common seems a poor holding. The bonds, who knows?

The wuotes seem to be taking this in stride; perhaps it was expected.

Next O takeover Las Vegas? How about the NFL? Congress chould apply Title 9 to it.

Ha
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