This reverse offshoring move will be completed in about 18 months. Albert Lord, Sallie Mae CEO said, "The current economic environment has caused our communities to struggle with job losses. They need jobs, and we will put 2,000 of them into US facilities as soon as we possibly can."
Sallie Mae's offshore operations include loan originations, servicing and collections, including both applications processing and call centres in Pune, Bangalore and Philippines facilities. The firm manages about $180 billion in student loans for some 10 million students.