 |
|
 |
|
|
|
 |
|
"[I] don’t see many job or grad school applications from University of Waikato, but I’ll sure not trust a transcript or diploma from that institution ... who knows what it might mean?” --perplexed
Neo-Nazi Gets University to Pull Master's Thesis on His Views
Hurricane Ike Caused $710-Million in Damage to University in Texas, Official Says
As many as one-third of the 12,000 employees of the University of Texas Medical Branch, in Galveston, face layoffs.
Higher-Education Groups Want to Watch Over IRS's Questionnaire for Colleges
The associations are urging each college that receives a copy of the questionnaire to share its responses, in confidence.
U. of Missouri Says Classroom Photo of Obama Violates Ban on Political Advocacy
In another controversy over campus policies for displays of political advocacy, the University of Missouri at St. Louis excised a photo of Barack Obama from a classroom poster.
Georgia Proposes Merging Technical Colleges
As the state budget picture worsens, leaders of Georgia’s technical-college system are proposing consolidating 14 colleges to save money.
Bus Carrying Thai Students and Faculty Members Crashes, Killing at Least 21
Students on a field trip to the coast were killed when their bus went over an embankment.
Palin Attended 4 Colleges in 5 Years to Earn Diploma | 206
Priest Charged With Dealing Drugs out of U. of Illinois Student Center | 56
University Disciplines 4 Students for Hanging Effigy of Barack Obama | 53
Southern Cal Deletes Muslim Scripture From Web Site Following Complaint | 44
Cutthroat Competition for Textbook Sales Pits UMass Faculty Members Against Bookstore | 42
Athletics
Community Colleges
Government & Politics
Information Technology
International
Money & Management
Northern Illinois
Research & Books
Short Subjects
Students
The Faculty
Prior days' news: By date | Search
This week's print issue
Back issues: By date | Search
July 24, 2007
U.S. Senator Broadens Inquiry Into Spending by Nonprofit Lender EduCap
After coming under fire last week for lavish spending, the chief executive of EduCap Inc., a nonprofit student-loan company, said critics should “take it up with Congress.” On Monday, a powerful member of the U.S. Senate’s Finance Committee referred to that challenge as he opened an inquiry into the lender’s operations, The Washington Post reported today.
EduCap, which makes private student loans under the name Loan to Learn, pays its chief executive, Catherine B. Reynolds, $1-million in annual compensation. The nonprofit organization also bought a $30-million private jet and donates millions of dollars to a foundation run by Ms. Reynolds’s husband, according to the Post. EduCap was criticized last year for inviting college financial-aid directors to an all-expenses-paid conference in the Caribbean.
In a letter sent on Monday to Ms. Reynolds, the Finance Committee’s two leaders asked for documentation on how EduCap sets loan rates, approves customers, and spends money. The senators also raised questions about whether EduCap deserved its tax-exempt status.
“The taxpayers and Congress need full confidence that public-charity executives aren’t enjoying private jet vacations on the backs of students being charged 18-percent loan interest rates,” said Sen. Charles E. Grassley of Iowa, the top Republican on the committee. —Paul Fain
Posted on Tuesday July 24, 2007 | Permalink |
Previous: Judge Allows Oklahoma State U. to Take Final Land Parcel for Athletics Village
Next: Freshman Orientation on Some Campuses Now Features a Family-Friendly Perk