Sally May, a Name That's Probably Familiar to Many of You

Sally may is what they call a quas public agency, where it's overseen by the federal government. Its owners, its shareholders, were banks and schools shareholders which meant banks and schools had a vested interest in students borrowing as much money as possible. Sally may played the role of a middle man, administering student loans from banks that are guaranteed by the government. And it ended up being very good for banks and private partners.