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Despite a difficult start to the 2008 fiscal year, Sallie Mae – the nation’s largest student lender – has reported that business is steadily improving. The company recently issued a statement saying they are currently experiencing "strong growth" and "solid performance" in student loan business. In recent months many private student lenders have retracted their loans due to the passage of the College Cost Reduction and Access Act, a law that favors federal direct loan programs over private loans, and increases the credit costs for private lenders. According to the most recent data, Sallie Mae looks to be making a nice recovery, and is working to finance student loans at more favorable rates, with help from the new Department of Education program to buy securities composed of student loans.

More from the Washington Post
PBS Nightly Business Report
More from Market Watch
Read this NSNS post about the Sallie Mae's tough year
Read this NSNS post about the supposed “credit crunch”
Read this NSNS post about the Continued Access to Student Loans Act