Sallie Mae joins forces with private equity giant KKR

Key Insight: Sallie Mae, the nation's preeminent private student lender, is teaming up with a private equity giant as it prepares for a future in which the federal government is retreating from the student loan industry. Supporting Data: KKR plans to buy more than $6 billion in student loans from Sallie Mae over the next three years. Expert Quote: "We're excited to work with KKR on this first-of-its-kind deal and look forward to growing this into a new business," said Sallie Mae CEO Jon Witter. America ...