- Mar 1, 2000
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can not wait for this bubble to burst. I'm sure we'll bail out these sorts of companies nonetheless. The amount of money being made off student loans is sickening.
Sallie Mae execs tan at Maui retreat while student debt crisis tops $1.6 trillion
As borrowers struggle to keep up with their payments, Sallie Mae flew more than 100 employees on its sales team to Hawaii to celebrate $5 billion in sales.
www.nbcnews.com
WAILEA, Hawaii — As 1 in 5 American adults wonder how to pay off their combined $1.6 trillion in student debt, Sallie Mae executives and sales team members wrestled with a different question: Between meetings, how should they spend their time on their five-day paid trip to the luxury Fairmont resort on Wailea beach in Maui?
Sallie Mae brought more than 100 of its employees to Hawaii in August to celebrate a record year — $5 billion in student loans to 374,000 borrowers. The company said it didn’t pay for employees’ families to attend, but some did tag along.
“We said, ‘Hey, look, Maui is a pretty nice spot.’ And so if you wanted to stay a few days or want to bring family, that's up to you,” Ray Quinlan, CEO of Sallie Mae, told NBC News on the grounds of the Fairmont Hotel.