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Student loan provider Sallie Mae moving to Delaware

July 13, 2010 - After 40 years in the Washington, D.C. area, Sallie Mae is moving its national headquarters.

The company, which is the country's leading provider of student loans, announced that it is leaving its current corporate offices at Reston, Virginia and relocating to Delaware. The passage of the Health Care and Reconciliation Act has required Sallie Mae to "align its cost structure with its continuing businesses," said company officials.

"The objective is to combine the senior management team in a single location," said CEO Alfred Lord. "Delaware officials helped make these changes as efficient as possible."

Sallie Mae has been headquartered in Reston since moving there from Washington, D.C. in 1996. The loan provider already had 900 employees in its Newark, Delaware offices. That state's governor, Jack Markell, expressed his optimism that the company will make a significant number of new jobs available to Delaware's workforce. "When these new jobs arrive, they'll find a government invested in new job creation and committed to moving quickly to grab opportunities for growth."

Making the move north to Delaware could become very costly for Sallie Mae's employees. They would be well advised to protect their belongings with moving insurance.

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