Senate Committee Releases Report On Unethical Practices In Student Loan Industry

by Justin on June 15, 2007

Abstract:

Sen. Edward Kennedy (D-MA), chairman of the Senate Health, Education, Labor, & Pensions (HELP) Committee, released a Committee staff report on marketing practices in the FFEL program and questionable behavior between student loan providers and schools yesterday. This is first in what may be a series of investigative documents examining evidence of abuses in the FFEL Program.

The Report on Marketing Practices in the Federal Family Education Loan Program details benefits and compensation provided to aid administrators in return for preferential treatment that can lead to increased loan volume. The report comes just one week before the Senate Education Committee is scheduled to take up the Higher Education Access Reconciliation Act and The Higher Education Amendments of 2007.

The entire article was originally published in NASFAA’s Today’s News on 6/15/07.

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