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"We'd like to think that doctors are somehow immune to the influence of advertising, but turns out they're human after all.
— Debbie C
Drug-Company Association Bans Freebies for Doctors
Education Department's 'Emergency' Request for Pell Grant Survey Is Denied
Several associations representing traditional colleges opposed the request and questioned the department’s motive.
Accreditor Can Certify New Institutions Once Again, Education Dept. Says
The department restored the American Academy for Liberal Education’s ability to accredit new institutions.
NYU's President to Teach at Incipient Campus in United Arab Emirates
John E. Sexton, a lawyer with a Ph.D. in comparative American religion, will lead a course on religion and government.
Judge Rules That UC-Berkeley May Build Controversial Athletics Center
The building has drawn nearly two years of protests and lawsuits from tree-sitters, neighborhood groups, and the City of Berkeley.
Student-Aid Administrators Worry About Access to Loans, Survey Finds
Less than half of respondents believe recent federal legislation does enough to ensure that aid will be available to students.
Closed Out? Norman Finkelstein, Controversial Scholar Denied Tenure, Can't Find a Job. | 104
Group Argues That Out-of-Class Learning Is Domain of Faculty, Not Student Affairs | 92
Is There a 'Growing Backlash' Against the SAT? | 59
College Settles With Instructor Fired for Teaching Adam and Eve as Myth | 54
Fresh Artistic Controversy Hits Yale U. | 52
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January 31, 2008
College Loan Corporation Quits Federal Loan Program
The College Loan Corporation, the eighth largest originator of federally guaranteed student loans, announced today that it would stop making loans in the federal program on March 1.
In a letter explaining the decision, Cary Katz, the company’s chief executive officer, said that recently enacted cuts in the subsidies the government pays on such loans, coupled with disruptions in the credit markets, were “making it impossible for midsized companies like College Loan Corporation to participate in the federal-loan marketplace.”
The College Loan Corporation is the largest lender to leave the guaranteed-loan program since Congress passed legislation in September that slashed the subsidy rate for for-profit lenders by 0.55 of a percentage point. Lenders and other critics had warned that the cuts would drive some companies out of the federal student-loan program or force them to eliminate borrower benefits.
Several smaller lenders have since announced that they will stop making federally backed loans, and even Sallie Mae, the nation’s largest student lender, has become more selective about the education loans it will make.
Mr. Katz said the College Loan Corporation would continue to make private student loans and manage its existing federal-loan portfolio. —Kelly Field
Posted on Thursday January 31, 2008 | Permalink |Comments
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These companies were given a free ride for years by the Republicans in power at the expense of students. Katz should give back the millions he’s profited on the backs of poor and middle-income Americans.
— Russ Hudson Feb 4, 01:30 AM #
Late last week SLX announced they were joining the masses and getting out of FFELP consolidation business. Sallie, NELNET, GOAL, CLC and Affinity have all dropped out.
Indications tell us that we should be bracing for another recession in the coming months, which usually indicates that many out-of-work individuals may return to school to sharpen their skills. With a pullback in private student loans – and in some cases, federal student loans – I think we have reason to be concerned.
— peter Feb 8, 01:43 AM #