SLM Corp. , the lender known as Sallie Mae, had its 2011 earnings estimate boosted 8.4 percent at FBR Capital Markets after announcing the acquisition of $28 billion of debt bundled and sold as bonds and related assets from Citigroup Inc.’s Student Loan Corp.
Charles Schwab Corp. , the largest independent brokerage by client assets, reported third-quarter profit that beat the average analyst estimate as sales from earned interest offset a decline in trading revenue.
The Obama administration proposed banning for-profit colleges from tying recruiters’ pay to the number of people they enroll, saying high-pressure sales tactics induced students to take out government loans they can’t afford.
The Obama administration is delaying the release of a proposed rule that would cut federal financial aid flowing to for-profit colleges, Congressional aides said today. Analysts said the move means the government may back away from a regulation the industry is fighting.