There are a variety of types of debt. There are good debts and bad debts. It is important to understand debt and use borrowing strategically, so that you do not end up with a debt problem.

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2500 jobs: the cost of the new federal student loan law cited Sallie Mae on Friday as it commented on the effect on the new law recently passed by the Obama Administration aimed to eliminate middlemen and cut down costs.

The nation’s largest student loan lender has told 1,200 staffers in service centers in Killeen, Texas, and Panama City, Fla., they will lose their jobs by year-end. The remaining cuts will follow in 2011, resulting in nearly a third of the company’s total work force of 8,000 losing their jobs.
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Student loan reform legislation is to be changed to help protect about 1,000 jobs at Access Group and Sallie Mae, two student-loan providers in Delaware. Sens. Tom Carper and Ted Kaufman want to change bring about this change.
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