Article on Sallie Mae's Growing Clout

IN the NYT business section. A little credulous and ignoring some of the political issues in there, such as this graf:

Changes in the law — including longer repayment periods on loans, bankruptcy overhaul [TRY: THE ELIMINATION OF BANKRUPTCY PROTECTION FOR BORROWERS] and the rise of products that let students refinance their debts at more manageable rates — have not only brought default rates to record lows but also attracted swarms of new lenders. And during the Clinton administration, the federal government itself got into the direct lending business, essentially competing with the banks.