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STUDENT LOAN MARKETING ASS'N v. RILEY

Nos. 95-5428, 96-5016.

104 F.3d 397 (1997)

STUDENT LOAN MARKETING ASSOCIATION, Appellant/Cross-Appellee, v. Richard W. RILEY, Secretary of the United States Department of Education, Appellee/Cross-Appellant.

United States Court of Appeals, District of Columbia Circuit.

Decided January 10, 1997.

Order on Rehearing March 11, 1997.

Attorney(s) appearing for the Case

Alan Kriegel, Washington, DC, argued the cause for appellant/cross-appellee. Richard L. Brusca, Amy R. Sabrin, Robert S. Bennett, Timothy G. Greene and Robert S. Lavet were with him on the briefs.

Douglas N. Letter, Litigation Counsel, United States Department of Justice, Washington, DC, argued the cause for appellee/cross-appellant. Frank W. Hunger, Assistant Attorney General, and Eric H. Holder, Jr., United States Attorney, were with him on the briefs. Barbara C. Biddle, Assistant Director, entered an appearance.

Before: WALD, WILLIAMS and GINSBURG, Circuit Judges.

Opinion for the Court filed by Circuit Judge WILLIAMS.

Concurring Opinion filed by Circuit Judge WALD.

STEPHEN F. WILLIAMS, Circuit Judge:

In the Omnibus Budget Reconciliation Act of 1993, Congress added § 439(h)(7) to the Higher Education Act of 1965, imposing a 0.3 percent "offset fee" on the principal amount of each student loan that the Student Loan Marketing Association ("Sallie Mae") "holds." The Department of Education interpreted the statute...

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