BUSINESS BRIEFING

STUDENT LENDING

Sallie Mae President Leaving

Sallie Mae, the biggest U.S. educational lender, said C.E. Andrews, the company's president and former chief executive, will leave at the end of the month.

Andrews will receive a $500,000 bonus for "year-to-date achievement of individual performance goals" and a cash payment of $2.5 million in recognition of five years of service, Reston-based Sallie Mae said in a filing with the Securities and Exchange Commission.

Andrews became chief executive in May 2007 after the resignation of Tim Fitzpatrick, and left the role in December when Fitzpatrick's predecessor, Albert Lord, took back the post.

REGULATORS

More Funds Sought for DTV Shift

Costs to run a coupon program that is helping people shift to digital television are about to exceed a congressionally mandated cap and the Bush administration is asking for more money.

Administrative costs for the program are capped at $160 million. The program provides two $40 coupons per household to consumers who will need converter boxes when full-power television stations shift to digital-only broadcasting in February. The boxes retail for $40 to $70.

Without legislative action, the Commerce Department's National Telecommunications and Information Administration says it might run out of funds to administer the program by the end of January, according to a letter delivered to Congress.

TRADE

China Seeks Redress in WTO

China filed a formal complaint against the United States at the World Trade Organization, disputing U.S. charges on certain steel pipes, tires and woven sacks from China.