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"Some college administrators seem so distracted with fund raising, academic infighting, and community initiatives that they set up their emergency communications departments very poorly. Training is poor to nonexistent, secretaries are pressed into service with tremendous responsibilities for running 'notification systems' 24/7 and on weekends because no one else knows how to do it and the administration won’t pay for additional staff. Procedures are seat-of-the-pants and dependent on HIPPO (highest paid person’s opinion), except when something like Virginia Tech happens and there is some sort of scramble to do something different." --Donna
Most Colleges Avoid Risk Management, Report Says
Jill Biden Shines a Global Spotlight on American Community Colleges
Speaking at a Unesco conference in Paris, the vice president’s wife stressed the importance of two-year institutions to the nation’s educational goals.
Connecticut Public Colleges Lose 200 Professors to Early Retirement
Administrators are scrambling to plug holes in their course schedules for fall, with most expecting to do so by hiring more adjuncts or increasing class sizes.
U. of Georgia Paid 2 Fraternities $2.4-Million to Relocate, Contracts Show
The two were among five with houses on property where the university plans to build new academic facilities.
New Allegations in Admissions Controversy at U. of Illinois Suggest Ex-Provost Played a Role
Linda P.B. Katehi, the incoming chancellor of the University of California at Davis, has insisted she knew nothing of the admission of politically connected applicants at Illinois.
Sonoma State U. Foundation May Lose $350,000 on Loan to Former Board Member
The foundation will be forced to issue fewer scholarships in the 2010-11 academic year because of a diminished endowment, a university official said.
College Suspends Student for Working in Gay Pornography | 58
President Obama's Visit to Notre Dame Carries Barely a Hint of Controversy That Preceded It | 58
Drug Sting Nabs 21 Students at U. of Illinois | 57
Faculty Members and Union Protest Staff Layoffs at Temple U. as 'Cruel' | 57
North Dakota Board's Vote Puts 'Fighting Sioux' Mascot on Thinner Ice | 57
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January 18, 2007
Attorney General of N.Y. Asks Sallie Mae for Data on Deals With Campus Officials
The New York Attorney General’s Office has sent an informal request to several student-loan providers seeking information about the deals they have struck with campus financial-aid administrators to win student-loan business. In a conference call today to announce Sallie Mae’s fourth-quarter earnings, its chief executive officer, Tim Fitzpatrick, confirmed that the request had been made of his company and other lenders.
“We are providing [the attorney general] all the information,” Mr. Fitzpatrick said. He added that, from time to time, attorney-general offices in other states have made similar requests. “This is an opportunity to counter negative press reports,” he said.
Posted on Thursday January 18, 2007 | Permalink |Comments
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You know: It is apparent many borrowers are so zealous and desperate to complete their education that they loose sight of reality and the loan contracts they are signing. Wouldn’t it be prudent to deal with the colleges and government agencies who are at the root and core of this educational loan exlposion. Colleges & universities are the institutions and culprits who placed such a high price on education today that students and parents are “loan suiciding’ without planning on how to repay these loans with solid financial planning. Why aren’t schools and government agencies set up to assist students who can’t afford higher education and plan step by step for their education (even if it takes 5-6 yers for a 4 yr degree).
Being in the industry, i do feel empathy for many borrowers (if you borrow $40,000 when you can’t afford it, let alone borrow $80,000). Isn’t this behavior sending a message to government & higher institutions of learning. This is not an American dream; it is a nightmare. If the interest rate is too high, loan elsewhere or fix the root of the problem which is government and colleges & universities.
I know what it is like to borrow money for your education when you have 1-2 courses remaining to complete and your financial advisor says, “Your government grants are finished, there is no money left to complete your education.” I know what it is like to go on interview after interview (when you know you are qualified for the job— deserve it—can do the best job), and not get that job because of bias,not the exact degree match, or nepotism). Myadvice is to plan for your education, search all avenues of funding, don’t loan out of desperation if you can’t pay it back (no matter how good your future appears). That silver lining isn’t there for everyone—make and seek your own silver lining &dream, not someone else’s.
— Loan Specialist Jan 30, 10:53 AM #