• Tattersall Limited (operates lotteries in Australia)
• Scientific Games Corp. (lottery service provider)
• International Game Technology (lottery service provider)
• Institutional Investors
• Pension Funds
The biggest example of privatization in student lending is Sallie Mae. Sallie Mae was established in 1972 as a government-sponsored enterprise (GSE) by the federal government to help students by facilitating a secondary market in federally guaranteed student loans. As a GSE, it had benefits such as exemptions from state and local taxes but it was limited in the kinds of business it could enter. In 1996, the SLMA Reorganization Act was enacted, which began the process of converting Sallie Mae into a private business while still meeting the needs of the borrowing student public. The privatization of Sallie Mae was completed in December of 2004.
Some states have privatized portions of their student loan programs. Opponents of these kinds of transactions claim that interest rates on student loans increase severely after the sale of the loans. Currently, Missouri is trying to sell more than $2 billion worth of its student loan portfolio, operated by the Missouri Higher Education Loan Authority, in exchange for approximately $425 million. In 2004, Sallie Mae tried to buy Pennsylvania’s student loan program, the Pennsylvania Higher Education Assistance Agency, but was turned down due to concerns by state officials over the impact of the takeover on college students and their families. Sallie Mae is the major private company in this industry and has bought numerous non-profit entities that provide student loans.
In 1957, state lawmakers created the Illinois Student Assistance Commission (ISAC) to ensure that financial considerations did not prevent Illinois students from realizing their postsecondary educational goals. ISAC offers numerous programs, such as grants, scholarships, and minimum rate educational loans, to help the students of Illinois. In Public Act 094-0839, the State Comptroller and State Treasurer are directed to transfer $38.8 million to the General Revenue Fund from the sale of all or a portion of the $3.8 billion ISAC loan portfolio. In June of 2006, ISAC sent out a request for proposals for consulting services related to the sale of their student loan portfolio. As of the time of the writing of this report, the sale of the ISAC loan portfolio was ongoing.
Complete airport privatizations have been more prevalent throughout the world than in the U.S. Airport privatizations have taken place in Australia, Great Britain, Canada, Mexico, and The Netherlands. The major reason why airport privatizations have happened more frequently outside the U.S. is how airport planning, design, financing, and management have been organized. In most countries, airports are the complete
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