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Auditors Accuse Bank of Illegally Getting Student Loans
09 January 09 02:20 PM | Student Loan Girl | 0 Comments   

A recently completed audit of Fifth Third Bank — the 20th largest lender of federal student loans in the country according to college financial aid site FinAid — found that the bank violated federal law by illegally paying three companies for loan applications Read More...

Filed under: bank, Cliff Peale, college, college financial aid, college loans, Department of Education, Federal Family Education Loan Program, federal student loan program federal student loan, FFEL, Fifth Third Bank, FinAid, financial aid, improperly obtained loan, inducements, Inspector General, Kelly Field, Law School Financial, lenders, loan application, loan volume, MSA Solution Inc, NextStudent, Pacific Loan Processing, paying for college, student loans, The Chronicle of Higher Education, The Enquirer, tuition

Credit Unions Offer Themselves as Partial Solution to Looming Student Loan Crisis
12 April 08 11:19 AM | Student Loan Girl | 0 Comments   

In the last six months alone, since legislators eliminated over $21 billion in subsidies to student loan lenders in the Federal Family Education Loan Program, at least 44 FFELP lenders have stopped originating federal student loans. This exodus of lenders Read More...

Filed under: capital, Chronicle of Higher Education, college, Congress, credit crisis, credit crunch, credit unions, Education, Edward Kennedy, Federal Family Education Loan Program, FFELP, FinAid, financial aid, Higher Education Act, Kennedy, lenders, liquidity, Mark Kantrowitz, Michael Kim, mortgages, NextStudent, nonprofit, Paul Basken, shortage, student loans, subprime, subsidies, UFCU, University Federal Credit Union, University of Southern California, University of Wisconsin, USC, USC Credit Union, UW Credit Union, UWCU