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Nothing to see here folks, just move along........
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Colleges Keep Pushing Certain Lenders
Nonprofits that could save students plenty in loan costs are still often not promoted on schools' lists
As college students and parents scramble to line up educational loans in the last frantic weeks before classes start, many schools are still sending out lists of "preferred lenders" that steer borrowers to unnecessarily expensive loans.
Four months ago, most major lenders agreed to stop making payments to either schools or financial aid officers to win placement on the influential lists. In addition, many schools have agreed to codes of conduct that are supposed to open up the lists to lenders that offer the best deals. U.S. News found, however, that the lowest-cost lenders are still omitted from many colleges' lists. That means many borrowers don't realize they could save hundreds and, in some cases, thousands of dollars by borrowing from a lender not recommended by the school.....more....
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AND MORE..Nelnet's Friend with Benefits
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Nebraska Attorney General Jon Bruning is a forgiving man — at least when it comes to those who are helping finance his planned campaign for the United States Senate, like his good friends at the student loan company Nelnet.
As The New York Times first reported, Bruning is allowing Nelnet to renege on a $1 million settlement the company reached with his office in April of this year. Amidst revelations this spring of industry wide kickbacks, improper inducements, and gifts from student loan providers to colleges and universities, Nelnet quickly shut down a Nebraska investigation into its activities by agreeing to provide $1 million to the state in support of a national financial aid awareness campaign.
But according to a spokeswoman, Bruning decided last week to forgive Nelnet its $1 million obligation after the company announced that it had reached a separate $2 million settlement with New York State Attorney General Andrew Cuomo to end his investigation into Nelnet's business practices. Bruning has decided to forgive Nelnet's obligation because "it doesn’t make sense to create two funds for the same purpose," according to his spokeswoman.
A closer look at the relationship between Bruning and Nelnet suggests another rationale....more...
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Nebraska Attorney General Attacks Andrew Cuomo....
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Says Cuomo's Student Loan Investigation Widely Perceived as "an Embarrassment"
This whole Nelnet – Bruning relationship looks pretty fishy to us. Is Bruning interested in carrying out his duties as Nebraska’s Attorney General, running for higher office, or moving into private practice where he can defend Nelnet as a paying client?"
Nebraska Attorney General Jon Bruning (R-NE) attacked New York State Attorney General Andrew Cuomo’s (D-NY) student loan investigation yesterday, saying it's "widely perceived as an embarrassment" and that student loan giant Nelnet is an "ethical, decent, and honest company."
The Nebraska Attorney General goes on to say, "I will never apologize for being a defender of Nelnet." Wait a minute. Isn’t the Nebraska Attorney General supposed to be the chief prosecutor for the state?
Professional Responsibility
It's Attorney General Bruning's job to defend the State of Nebraska, not Nelnet, and to prosecute wrongdoing in the state. Bruning must have believed that Nelnet engaged in wrongdoing with respect to the company’s student loan marketing practices, because his office fined the company $1 million for those practices. If Bruning considers himself "a defender of Nelnet" and the Nebraska Attorney General office's investigation of Nelnet went to court, was Bruning planning on representing both sides at trial?...MORE..
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Embrace Student Loan Reforms, Spellings Urges
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Education Secretary Margaret Spellings took additional steps Thursday to try to combat the impression that her agency has been lax in its oversight of the student loan industry.
In a conference call with reporters, Spellings announced that she had sent a letter to all colleges and universities, lenders and guarantee agencies that participate in the federal guaranteed student loan program, urging them to put in place the “principles†of new regulations the department proposed in June to govern the relationship between colleges and lenders and other aspects of the loan industry. Although the regulations are not set to take effect until next July, under the attenuated process for approving new federal rules, colleges ought to “act now†and “move with dispatch to take the steps necessary this upcoming year†to “adopt the principles embodied in the regulations,†Spellings said.
..read more...
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Two USF men held on explosives charges
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Two University of South Florida students have been linked to what a law enforcement source said was a bomb and bomb-making plot.The two men face state explosives charges after police outside Charleston , S.C. allegedly found the bomb making material in their car Sunday. "They're going to be formally charged tomorrow with state charges by the Berkeley County Sheriff's Office, and those charges will involve explosives," Berkeley County Chief Deputy Butch Henerey told CNN. But federal officials disputed that account, telling CNN there was no bomb.
..More..!
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Student sues after Web site leads to university suspension
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A student suspended and banned from the University of Delaware over concerns about offensive material on his Web site filed a federal lawsuit Wednesday claiming that the school has violated his constitutional rights to free speech and due process.According to Maciej Murakowski, 19, UD makes its Internet server available for students to create their own Web sites, with no restrictions on content other than that it not violate state or federal law, and can not be used for commercial purposes. “As such, UD may not, consistent with the First Amendment, punish any student based on the content of his or her web site, even though the content may have an adverse emotional impact on some readers,†the lawsuit states. According to the complaint, Murakowski set up his Web page in 2005, posting often cynical and satirical offerings that included gory fake movie reviews. He incurred the wrath of university officials in a January posting entitled “Talking About Sex,†in which he lists various imaginary sexual acts. Among them are “The Sociopath,†in which you woo your partner with rose petals, soft kisses, a massage and gentle lovemaking, let her fall asleep in your arms, “then set her on fire.â€...hmmmm, more...
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Law blocks benefits to non USA Citizens
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Nearly 5,000 people in Arizona have been denied in-state college tuition, financial aid and adult education classes this year under a new state law banning undocumented immigrants from receiving those state-funded services.
The figures are spelled out in a new Joint Legislative Budget Committee report and give the first snapshot of how many people applied and were rejected from accessing state-subsidized programs because of their legal status.
When it comes to getting state services, the citizenship issue has taken on new importance because of Arizona voters' approval of Proposition 300 last November. The measure's impact has not been nearly as widespread as opponents expected, but supporters say it's reducing the amount the state spends on illegal immigrants...Mas Aqui..
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Recommended Reading for the college bound
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Investing in College, A Guide for the Perplexed, by Malcolm Getz
College education is one of the most important investments a family will make. But between the viewbooks, websites, insider gossip, and magazine rankings, students and their worried parents face a dizzying array of options. What do the rankings really mean? Is it wise to choose the most prestigious school a student can get into? What are the payoffs of higher education, and, by the way, how do we pay for them?
In a unique approach to these conundrums, an economist and award-winning teacher walks readers through the opportunities, risks, and rewards of heading off to college. Warning against the pitfalls of numerical rankings, Malcolm Getz poses questions to guide a student toward not necessarily the best college but the right one. Famous professors suggest quality--but do they teach undergraduates? Are smaller classes always better? When is a state university the best deal around? ...read more...
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Significant Victory for Students or Small Potatoes?
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Corinthian Colleges agreed Tuesday to pay $6.5 million to settle a lawsuit brought by the California Office of the Attorney General charging “a persistent pattern of unlawful conduct.†Among the allegations levied against Corinthian: the inflation of job placement and starting salary information in order to recruit students to enroll in vocational programs ranging in cost from $7,000 to $27,000; falsification of records provided to the government; and the offering of vocational programs that don’t meet minimum course completion or job placement rates required by the state.
Although Attorney General Edmund G. Brown Jr. described the outcome as a “groundbreaking settlement†that would provide “a measure of justice and fair restitution†to students who suffered from the alleged misrepresentations, consumer lawyers in California were decidedly less impressed, pointing out that only a sliver of students would possibly benefit from Corinthian’s cash...More, or less....
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Dean Charged With Hazing In Student's Death
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Rider University's Dean of Students and the Director of Greek Life are among five people charged in the death of a freshman from alcohol intoxication after a fraternity party at the school. The case is monumental as it's the first time in New Jersey that a university official has been implicated in a hazing crime.
Gary DeVercelly, 18, of Long Beach, Calif., died on March 30.
Mercer County police charged 51-year-old Anthony Cambell, the school's Dean of Students, and 31-year-old Ada Badgley, the Director of Greek Life, with aggravated hazing.
"The ramifications of this for colleges and universities in New Jersey, and across the country, is that it will send some kind of message that the standards of college life, when it relates to alcohol, need to be policed carefully," said Mercer County Prosecutor Joseph Bocchini Jr.
...Read More...
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Old Articles
| Wednesday, August 01 | | · | Student Loan Company Targets Fire Back |
| · | The High Price of Loan to Learn |
| · | “Wait — they give schools a cut of the profits in exchange for pref |
| · | The National Association of College and University Business Officers Examining V |
| · | Lenders showered perks on UTA, UTD aid officers, but... |
| · | Certain Degrees Now Cost More at Public Universities |
| Saturday, July 21 | | · | Nonprofit Student Lenders Scrutinized... |
| · | When Work Doesn't Pay |
| · | I Know Its Australian, but .........a Degree in Prostitution? |
| · | Certain Student Loan Companies Have New Competition On Campus |
| Tuesday, July 17 | | · | Accidentally Into the Loan Wars......... |
| · | Bucking the Tide on Private Loans |
| · | HA HA HA HA HA HA HA |
| · | Sallie Mae Spending Spree to Buy Political Influence |
| · | A Washington Mystery.... |
| · | The Plot Thickens: Students at 921 Colleges Choose the Same Lender |
| · | The Sound Of Hundred's Of Ivy Covered Violins..... |
| · | Tired of lawyers, Wis. lawmaker wants to cut law school's funding |
| Wednesday, July 11 | | · | College students hit by higher birth control prices, New law means universities |
| · | Class Action Attorney Dealing in Student Loan Issues |
| · | Pastor's Plight Shows Burden of Student Debt... |
| · | Private Education Loans Again...Did the school suggest them? |
| Tuesday, July 10 | | · | Fayetteville State University chancellor resigns.... |
| · | And It Goes On And On.... |
| · | Suit filed over state schools' tuition rates |
| · | Alternative Education Loans = Shakedown..Avoid at all costs! |
| · | From Anger to Acceptance...My Eye... |
| Saturday, July 07 | | · | Thinking of becoming a Chiropractor? Think Again! |
| Wednesday, July 04 | | · | STUDENT LOAN SCANDAL: Reforms should include government programs. |
| · | Pushing Back..this is good.... |
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