Thursday, April 05, 2007

NPR Report: School Officials Investigated for Student Loan Kickbacks

A report on NPR today suggests that financial aid directors at three top schools accepted stock in student loan companies in exchange for steering students to borrow from those lenders.

More about the story can be found here.

I'm shocked, shocked, I tell you.

1 comment:

Leisa said...

My SIL is Director of Financial Aid at a private college. We were talking about this issue. They happen to be direct lenders to avoid having to deal with the loan weasels.

It's all about commissions--same issues different venue from the mortgage loans.

Sometimes I'm disgusted; but I'm old enough not to be surprised.