While Student Debt Rises to Record $1.6 Trillion, Sallie Mae Execs Lounge at Maui Retreat

By 1 month ago

While borrowers are declaring bankruptcy, Sallie Mae flew over 100 employees and their families to Hawaii to celebrate $5 billion in sales to 374,000 people.

“We said, ‘Hey, look, Maui is a pretty nice spot.’ And so if you wanted to stay a few days or want to bring family, that’s up to you,” Ray Quinlan, CEO said. He added that it’s a “get-together” for all of Sallie Mae’s salespeople.

Meanwhile, Sallie Mae is destroying the lives of borrowers. Between the practice of affording loans to those who are unable to pay them back (an issue primarily affecting marginalized groups and female students) and private student loans, Sallie Mae is driving people to bankruptcy.

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