October 13, 2006
Ed. Dept. Audit Cites Lax Loan Oversight
The U.S. Education Department's Office of Inspector General has accused the agency's division that administers the federal government's guaranteed-student-loan program of lax oversight of the 3,500 lenders and other loan servicers that participate.
The findings are part of a 34-page audit released by the inspector general last month. According to the report, Financial Partners, a division within the department's Federal Student Aid office:
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Emphasized partnership over
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