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STUDENT LOAN MARKETING ASS'N v. RILEY

Civ. No. 95-717.

907 F.Supp. 464 (1995)

STUDENT LOAN MARKETING ASSOCIATION, Plaintiff, v. Richard RILEY, Secretary of the United States Department of Education, Defendant.

United States District Court, District of Columbia.

November 16, 1995.

Attorney(s) appearing for the Case

Alan Jay Kriegel, Robert Stephen Bennett, Richard Louis Brusca, Skadden, Arps, Slate, Meagher & Flom, Washington, DC, for plaintiff.

Sheila Mae Lieber, Margaret Hopkins Plank, U.S. Department of Justice, Civil Division, Washington, DC, for defendant.

MEMORANDUM OPINION

SPORKIN, District Judge.

This matter comes before the Court on cross-motions for summary judgment. Plaintiff, Student Loan Marketing Association ("Sallie Mae"), challenges a provision of the Omnibus Budget Reconciliation Act of 1993 (the "Budget Act") which imposes an annual fee on student loans which Sallie Mae acquires in the secondary market.1 The annual fee is equal to 0.30 percent (30 basis points) of...

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