ERIC Number: ED469990
Record Type: RIE
Publication Date: 2002-Oct
Reference Count: N/A
Lending a Hand: A Report on the Lobbying Expenditures and Political Contributions of the Five Largest Student Loan Corporations.
United States Public Interest Research Group, Washington, DC.
Using data from a variety of sources, including public records and the Web site of the Center for Responsive Politics, this study examined the political spending of the five largest holders of federally subsidized student loans: Sallie Mae, the Student Loan Corporation of Citibank, First Union National Bank, Wells Fargo Education Financial Services, and the National Education Loan Network. Political spending by these 5 corporations, including lobbying expenditures, totaled almost $60 million over the last 3 election cycles. Employees of these corporations contributed more than $1.1 million to the political process in the last three election cycles The Political Action Committees of the top five lenders contributed more than $3.7 million to federal candidates over the last three election cycles. Soft money contributions from these lenders totaled almost $5 million for the last 3 election cycles. Lobbying expenditures accounted for more than 80% of the lenders' political budget. (SLD)
Descriptors: Corporations, Expenditures, Higher Education, Lobbying, Political Issues, Student Loan Programs
State PIRGs, 218 D Street, SE, Washington, DC 20003. Tel: 202-546-9707; Web site: http://www.pirg.org.
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: United States Public Interest Research Group, Washington, DC.
Note: Part of the State PIRG's Higher Education Project.