June 29, 2007

Financial Scandals and Student Loans

By MEYER EISENBERG and ANN H. FRANKE

The investigations of student-loan programs around the country echo previous scandals in the financial world involving stock offerings and mutual funds. The relationships between lenders and financial-aid officers seem to raise the same questions about impropriety, conflict of interest, and possible fraud. Indeed, lessons from Wall Street can inform colleges about what they may face as state, federal, and Congressional investigations proceed.

The law generally imposes a duty of fair

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