Federal Judge Dismisses Students' Fraud Suit Against Sallie Mae

Federal Judge Dismisses Students' Fraud Suit Against Sallie Mae

SAN FRANCISCO - A federal judge in California on Sept. 24 dismissed a putative class action alleging that SLM Corp. and Sallie Mae Inc. issued high-interest loans to California Culinary Academy (CCA) students without regard to the students' repayment ability, finding that there is no cause of action for aiding and abetting fraud (Andrew Bradshaw, et al., v. SLM Corp., et al., No. 12-6376, N.D. Calif.).

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