Sallie Mae Off Hook In Student Loan Class Action

Law360, New York (January 26, 2010, 6:22 PM EST) -- A federal appeals court has upheld summary judgment for student loan giant SLM Corp., parent company of Sallie Mae Inc., in a group of student borrowers' putative class action challenging the firms' methods of calculating interest, assessing late fees and setting the repayment start date on their loans.

A three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled on Monday that the plaintiffs' claims were preempted by the statutes and regulations governing lenders and third-party loan servicers under the Federal Family Education...
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