New York’s attorney general has written a highly critical letter to college financial-aid officials saying their proposed new code of conduct would not curb abuses in the student loan industry.
Andrew Cuomo’s office has been investigating the industry for months. He says the new code cites only general, “vague lofty goals.” In a letter […]
The director of student financial services at Johns Hopkins University has resigned — nearly a month after a nationwide probe of the student-loan industry revealed she was accepting fees and graduate-school tuition payments from a lender.
Ellen Frishberg, director of student financial services at the Homewood campus since 1989, resigned Friday, a university spokesman said.
She had […]
The state Legislature last week quickly pushed through and unanimously passed legislation to prohibit revenue sharing agreements between colleges and student loan companies after Attorney General Andrew Cuomo began investigating these practices two months ago.
“New Yorkers will have the confidence in knowing that state law will be on their side when dealing with the college […]
The Justice Department is reviewing an audit that found hundreds of millions of dollars have been improperly paid to a student loan company, House Education Committee chairman George Miller said yesterday.
Miller, a California Democrat, made the review public during a hearing in which he pressed Education Secretary Margaret Spellings on her decision to ignore a […]
New York Attorney General Andrew Cuomo’s office said Thursday it reached a settlement with CIT Group Inc. and CIT’s Student Loan Xpress unit arising from the state’s investigation of abuses in the U.S. student loan business.
The New York-based commercial and consumer lender agreed to pay $3 million into a fund that will educate students about […]
It’s a good thing you got that college education. You can put it to good use navigating the complex maze that is the student loan industry as you consider whether to consolidate your federal student loans.
For those who have never done it, it’s a question that comes up every year in anticipation of the […]
The Justice Department is reviewing an audit that shows hundreds of (m) millions of dollars have been improperly paid to a student loan company.
The audit was made public by House Education Committee Chairman George Miller at a hearing today. It was conducted by the Education Department’s inspector general, who recommended the 278 (m) million dollars […]
State Attorney General Bill McCollum sent a questionnaire to all Florida public colleges and universities.
The questionnaire asks if preferred lenders have offered them any incentives and to disclose their relationships with lenders. The attorney general says these types of practices keep schools from objectively providing students with fair choices and some students agree.
“It puts them […]
Wading into a roaring national controversy, Attorney General Martha Coakley is investigating whether Massachusetts colleges have improper relationships with loan companies, her office said yesterday.
“Every prospective student deserves a fair chance of financing a college education,” she said in a statement.
Several other attorneys general, most notably Andrew M. Cuomo of New York, as well as […]
The University of Wisconsin-Oshkosh is switching to a new Web site that lists the top financial institutions that have loaned students money in the past after severing its relationship with a company as a “preferred lender,” college officials said.
Last month, UWO scrapped its preferred lender list for students seeking financial aid following local and national […]
Though much news recently has focused on the problems in selecting a student-loan provider — thanks to allegations that some lenders and financial-aid offices have been in cahoots — for many students graduating this spring, the larger issue is how to pay back all that debt.
It’s no small matter. The median debt load for graduates […]
With the student-loan industry coming under harsh criticism, the House easily approved a bill yesterday aimed at curbing conflicts of interest and corrupt practices in college lending.
New York Attorney General Andrew Cuomo has been leading an investigation into the $85 billion industry that has turned up evidence that some colleges received a percentage of loan […]