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Behind the Dollars Spent

September 28, 2009

What the Biggest Lenders Spent on Lobbying

Here are totals of what the biggest student-loan providers spent to lobby the federal government on student-loan issues in 2008 and the first half of 2009 (see related article).

Source: Center for Responsive Politics; Chronicle reporting
1. Sallie Mae $5.8-million
2. Royal Bank of Scotland $1.5-million
3. Nelnet $1-million
4. Bank of America $360,000
5. Wachovia $300,000
6. JPMorgan Chase $148,000
7. U.S. Bank $140,000
8. Access Group $58,000
9. KeyCorp $30,000
10. South Carolina Student Loan $5,000

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What the Biggest Lenders Spent on Lobbying

Here are totals of what the biggest student-loan providers spent to lobby the federal government on student-loan issues in 2008 and the first half of 2009 (see related article).

Source: Center for Responsive Politics; Chronicle reporting
1. Sallie Mae $5.8-million
2. Royal Bank of Scotland $1.5-million
3. Nelnet $1-million
4. Bank of America $360,000
5. Wachovia $300,000
6. JPMorgan Chase $148,000
7. U.S. Bank $140,000
8. Access Group $58,000
9. KeyCorp $30,000
10. South Carolina Student Loan $5,000

Donations to Committee Members: GOP on Top

This list shows the party breakdown of donations by lenders in 2008 and 2009 to members of Congress who served on one of two committees with jurisdiction over federal student-loan programs -- the House Committee on Education and Labor and the Senate Committee on Health, Education, Labor, and Pensions.

Congress

House

Senate

Source: Chronicle analysis of Federal Election Commission data presented by the Center for Responsive Politics

Republicans

$368,699

$246,466

$122,233

Democrats

$223,944

$110,094

$113,850

Total

$592,643

$356,560

$236,083

Lenders That Contributed the Most to Congress, 2008-9

Among the top five lenders to students, Sallie Mae, the student-loan giant, contributed the most money to members of Congressional education committees — and far more to Republicans than Democrats.

Total

Democrats

Republicans

Source: Chronicle analysis of Federal Election Commission data presented by the Center for Responsive Politics

Sallie Mae

$102,000

$20,000

$82,000

Wells Fargo

$98,050

$40,750

$57,300

Bank of America

$89,950

$25,250

$64,700

JPMorgan Chase & Co.

$80,810

$38,244

$42,566

Citigroup Inc

$72,333

$40,150

$32,183

Who Got Contributions From Lenders

This list shows members of Congress who served on one of two committees with jurisdiction over federal student-loan programs and the money they received from lenders to students.

Party

Total

1 Mr. Marchant left the committee after the November 2008 election. All other committee members served throughout the period examined by The Chronicle.

* Representatives Biggert, Castle, Marchant, McCarthy, and Price also serve on the House Financial Services Committee, so some of the contributions they have received from banks may be unrelated to their political interest in the student-loan program. Similarly, Senators Reed, Brown, and Dodd serve on the Senate Banking Committee.

Source: Chronicle analysis of Federal Election Commission data presented by the Center for Responsive Politics

House of Representatives

Howard P. (Buck) McKeon

Republican

$56,000

Tom Price*

Republican

$33,250

Michael Castle*

Republican

$28,749

Judy Biggert*

Republican

$27,500

Kenny Marchant1*

Republican

$24,517

George Miller

Democrat

$16,000

Carolyn McCarthy*

Democrat

$15,950

Robert Andrews

Democrat

$15,800

John Kline

Republican

$13,500

Cathy McMorris Rodgers

Republican

$12,200

Senate

Richard Burr

Republican

$38,550

Jack Reed*

Democrat

$36,350

Lamar Alexander

Republican

$29,733

Sherrod Brown*

Democrat

$28,000

Christopher Dodd*

Democrat

$17,000

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We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
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