Columbia University will pay $1.1 million into an education fund.

Columbia said in a statement that it “does not admit, and expressly
denies, that it has violated any law in connection with its student
loan practices.”

Under the agreement, both Columbia and the National Association
of Student Financial Aid Administrators will adopt codes of conduct
that ban such practices as lender gifts to college financial aid officers.

Both will be monitored by Cuomo’s office for five years.

Drexel University in Philadelphia settled student loan steering cases
with New York Attorney General Andrew Cuomo.

Drexel, which said in April it did nothing wrong and vowed to defend
its practices. Yet they still agreed to pay student borrowers the $250,000
it had accepted from a lender in exchange for a listing as the school’s
“preferred lender”.

Drexel allowed the lender to use its name, logo and mascot in marketing
to Drexel students leaving students and families unaware they were
speaking to employees of a lending company and not the college.

Capella University, an online college based in Minneapolis, also settled
student loan steering cases with New York Attorney General Andrew Cuomo.

Cuomo said the agreement with Capella (which doesn’t include any
compensation) does not preclude cases he may bring against school
officials in the future.

Student Loans, in spite of the corruption are still a good deal and
allow students to pursue their academic aspirations.

But don’t overlook scholarships.

Scholarships are still better than loans because you don’t
have to pay them back. However, 95% of scholarship applications
are thrown away without consideration.

Gain the favor of scholarship committees…Win More Scholarships!
http://ScholarshipMoneyInformation.com

This entry was posted on Friday, June 1st, 2007 at 10:40 am and is filed under Student Loans, Financial Aid, Scholarships. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.