Word: lendersã
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...serious roadblock to this mission stems from the structure of the private student loan industry. The common practice of private loan corporations entering into partnerships with universities to be listed as “preferred lenders?? has a deleterious impact on students. This year, the Department of Education issued new federal rules aimed at curtailing financial exploitation. Though these new policies were well intentioned, they were also more lenient than many state regulations already in place. The federal intervention could weaken current state laws and undo the accomplishments of New York State Attorney General Andrew M. Cuomo...
...College in Atlanta, and the MacArthur Foundation. Though Massachusetts state law only permits loans below 20 percent, higher loans are permissible if the lender files notice with the state attorney general every two years. David Rich, the lawyer representing Realty Financial Partners, told Bloomberg News last week that the lenders?? notices had been filed on time. The lawsuit was filed by Fahey, who intended to use the loan to build a 186-home community and golf course in Dracut, Mass. According to Bloomberg News, Fahey received two loans that amounted to more than $10 million. The interest rate...
...shares of Education Lending Group, a preferred student lender for their respective employers. The new Education Department regulations will ameliorate this anticompetitive state of affairs, but only to an extent. Among other things, regulations will prevent these educational oligopolies by imposing a minimum of three “preferred lenders?? for universities. This is a step in the right direction. Enforcing a baseline level of competition will drive down loan interest rates that were artificially inflated by guaranteed business for lenders.Despite the benefit of such regulations, they weaken many state regulations. After securing millions in settlements from corporations...
...academic year alone, students borrowed over $13.4 billion for college tuition, according to the College Board. Unfortunately, many students are entering into debt uninformed—or worse, misled. Many universities, including Harvard Business School and Harvard Law School (thought not the College), list “preferred lenders??—a practice which serves business interests at the expense of student interests. Such listings essentially guarantee a company business, as many families new to the lending world blindly trust the recommendations of their universities without considering options that might be more suited to their needs...
...being a financial aid officer sounds like a boring desk job, think again. Apple iPods, portable DVD players, and trips to the Caribbean are just a few perks that private loan institutions offer to university officials in the hopes of being included on their “preferred lenders?? lists. Since financial aid offices recommend private loan options based on these lists, lenders have resorted to extreme marketing strategies to ingratiate themselves with college officials...
| 1 |