A Cost Is Not Exactly A Fee

"The `exit fee' for Sallie Mae" (In Business This Week, June 12), incorrectly stated that the Senate Budget Committee report accompanying the Senate budget resolution for 1996 indicated Sallie Mae should pay a $535 million "exit fee" to become privatized. In actuality, that figure reflects the amount of federal revenues that must be replaced, for budget-scoring purposes, if Sallie Mae is privatized.

Gisela Vallandigham

Assistant Vice-President for

Corporate Communications

Student Loan Marketing Assn.


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