Sallie Mae Extends Student Loan Net

June 20, 2002, 1:00 a.m. EDT 1 Min Read

- RESTON, Va. (06/20/02) -- SLM Corp.,commonly known as Sallie Mae, said it is launching a pilot ofOpenNet, a new data exchange tool that will connect schools to anylender, guarantor or student loan servicer. OpenNet is aimed atexpediting the loan delivery process by providing school customerswith a single file management system for all their loans. SallieMae is both the largest student loan originator and marketer in thecountry.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Fintech

Chime files for U.S. IPO on heels of office expansion

The neobank filed for an initial public offering on Tuesday shortly after announcing a new office lease in New York City.

By Melinda Huspen

6h ago
Consumer banking

More consumers expect to fall behind on debts, survey shows

Average Americans are souring on their own financial health, according to a New York Fed survey. That includes their ability to pay off their debts.

By Nathan Place

6h ago
Consumer banking

Soaring student loan delinquencies signal risks to banks

Serious delinquencies on student loans jumped tenfold at the start of 2025, shortly after lenient pandemic-era policies came to an end. The greater pressure on consumers' wallets is a cause for concern at banks that rely on borrowers' ability to repay their debts..

By Nathan Place

6h ago
Payments

New York tightens BNPL rules as the CFPB pulls back

New York State Gov. Kathy Hochul has codified how buy now/pay later lending will operate in the state, taking a heavier hand as the Consumer Financial Protection Bureau loosens its grip under President Trump.

By Joey Pizzolato

7h ago
M&A

Atlantic Union's growth-minded CEO looks south to Carolinas

Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.

By John Reosti

8h ago
Regulation and compliance

New Trump faces at FDIC, Fed create regulatory uncertainty for bankers

Tentative appointments at the Federal Deposit Insurance Corp. and the Federal Reserve have compliance officers reading the tea leaves for future policy plays.

By Frank Gargano

9h ago