Legal Loophole Inflates Profits in Student Loans
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The White House could have closed a loophole through which student loan companies are billing the federal government nearly a billion dollars, but chose not to.
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Middle income families with students in many of the nation's top university are getting some relief.
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Calling for swift reforms in the $85 billion student loan industry, Sen. Edward Kennedy released a report on Tuesday, alleging further instances of marketing misconduct among lenders and universities.
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Profits are up, but recently, a number of for-profit colleges have faced inquiries concerning the way they pursue federal funds.
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Concerned about mortgage fraud and predatory lending practices, many states have toughened their laws by requiring loan officers or originators to undergo extensive background checks and show proof of professional experience and training. Still, attracted by the lucrative mortgage business, many ...
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As tuition has soared past the limits on federal aid, more students are relying on barely regulated private loans.
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Congress is trying to end a practice that unintentionally has allowed banks to take in billions of dollars meant to help students pay for college.
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On the heels of a student loan scandal, some higher education officials have called a conferenceâs format deeply troubling.
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When it comes to paying for college, cash-strapped families have had a few good tidings of late. A string of elite, private colleges have announced major boosts in financial aid.
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Two Democratic members of Congress and New York Attorney General Andrew Cuomo have asked the biggest student lenders for information on criteria used to price college loans.
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Internal student loan industry documents unveiled Tuesday provide further evidence of conflicts of interest between banks and colleges or school officials.
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The trade group for university financial aid officers said yesterday that it would no longer allow student loan companies to court its members with gifts or sponsor its conferences, responding to a spate of revelations of conflicts of interest in the $85  billion-a-year industry.
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Lenders have concocted a frightening brew of fees. Are there fang marks on your wallet?
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A proposed settlement in a federal antitrust suit could raise NCAA limits on financial aid and allow schools to pay athletes for other expenses such as travel, health insurance and laundry.
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Not so long ago, highly leveraged companies could get loans to bail themselves out. Now they canât.
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College students are getting a raw deal, a recent New York report asserted. The problem is they're taking too many classes from part-time, or adjunct, professors.
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The Bush administration, fending off criticism that it has failed to provide adequate oversight to the student loan industry, proposed regulations yesterday that would prohibit lenders from showering universities with gifts to drum up business.