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SEC Investigates University of Phoenix Owner, Apollo Group
29 October 09 12:03 PM | Student Loan Girl | 0 Comments   

Apollo Group Inc., the parent company of the University of Phoenix, the largest for-profit college in the country, announced on Tuesday that the Securities and Exchange Commission has launched an “informal inquiry” into the company’s revenue accounting practices for the second time this year. Read More...

Filed under: Apollo Group, Brian Swartz, Chas Edelstein, Citron Research, college loans, David Seide, financial aid, for-profit colleges, GAO, Government Accountability Office, NextStudent, private student loans, proprietary colleges, Robert Wetenhall, Sally Stroup, SEC, Securities and Exchange Commission, Signal Hill Capital Group, student loan debt, student loan defaults, student loan lawsuits, student loans, Trace Urdan, University of Phoenix

‘Gap Loans’ at For-Profit Colleges Escape Proposed Legislation
27 October 09 12:47 PM | Student Loan Girl | 0 Comments   

While acting last Thursday to approve the creation of a Consumer Financial Protection Agency, which will expand federal oversight of private student loans, a Congressional panel at the same time voted to reject a proposal that would have included school-sponsored “gap loans” under the authority of the new CFPA. Read More...

Filed under: Barney Frank, Career Education Corporation, college loans, Consumer Financial Protection Agency, Consumer Financial Protection Agency Act, Corinthian Colleges, Deanne Loonin, Education Sector, federal student loans, FinAid, FinAid.org, financial aid, for-profit colleges, gap financing, gap funding, gap loans, H.R. 3126, H.R. 4137, Higher Education Act, Higher Education Act Reauthorization, Higher Education Opportunity Act, Institute for College Access and Success, ITT Tech, Jeff Silber, Justin Pope, Lauren Asher, Mark Kantrowitz, Maxine Waters, National Consumer Law Center, NextStudent, private student loans, proprietary colleges, student loan defaults, student loan lawsuits, Student Loan Legislation, student loans, TICAS, TILA, Truth in Lending Act, Westwood Colleges

Citibank Suspends Student Loan Program for International Students
15 October 08 06:04 PM | Student Loan Girl | 0 Comments   

Citibank announced it is canceling its private student loan program for international students in an effort to minimize its financial risk during the global financial crisis, Bloomberg reports (“ Citigroup Curbs Foreign-Student Loans at Harvard, MIT, Read More...

Filed under: Bank of America, Bloomberg, CitiAssist, Citibank, college loans, cosigner, Elizabeth Hicks, FinAid.org, financial aid, foreign students, Harvard University, International Students, Mark Kantrowitz, MIT, NextStudent, private student loans, Sloan School of Management, student loan defaults, student loans, University of Michigan

Shares of Corinthian Colleges Stock Take Nosedive Over Student Loan Defaults
28 August 08 06:56 PM | Student Loan Girl | 0 Comments   

Despite an 11.5-percent boost in student enrollment and an 18.3-percent growth in revenue over the last quarter, Corinthian Colleges saw its shares tumble in afternoon NASDAQ trading on Tuesday, amid investor fears of rising defaults on the school network’s student loans. Read More...

Filed under: Bloomberg, BMO Capital Markets, career colleges, CLC, college, College Loan Corp, college loans, Corinthian Colleges, credit crisis, default rates, financial aid, Forbes, Jack Massimino, Jeffrey Silber, Kenneth Ord, NextStudent, paying for college, private student loans, Ruthie Ackerman, Sallie Mae, stock values, student loan availability, student loan defaults, Student Loan Express, student loans, subprime, subprime mortgage crisis fallout, trade schools