Early Briefing: Changes From Sallie

*Sallie Mae of Reston said it would start charging students who apply for federally backed loans and stop offering loans to consolidate student debt, citing the credit markets as a reason for the change. Starting next month, Sallie will charge fees of $35 to a few hundred dollars to apply for federal loans, joining other firms who have stopped covering these fees.

*Provident Bankshares said it's seeking a $115 million cash injection after a steep loss from its real estate-related investment portfolio last year. The Baltimore company said it wants to raise the money as a sort of insurance policy for what's expected to be another tough year.

By Terri Rupar  |  April 12, 2008; 10:43 AM ET  | Category:  Morning Brief
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