Lessons From the Loan Scandal
From the July 29, 2007 New York Times…
Students are told they are free to borrow from any lender. In practice, lenders provide private money only for colleges with which they have a “relationship,” as customer service representatives put it.
Justin S. Draeger, spokesman for the National Association of Student Financial Aid Administrators, says his organization is troubled by such exclusions.
“We are very concerned about students who are treated differently based on the school they attend,” he says. “There are definitely some questions that need to be raised about the underwriting of these loans.”
The full article is available on the New York Times Web site.
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