Posted on 06/22/2007 9:24:53 PM PDT by gpapa
On Wednesday three of the nation’s top student loan lenders cut a deal with New York Attorney General Andrew Cuomo. Wachovia, National City, and Regions Financial Corporations agreed to a code of conduct that would prohibit questionable practices, such as giving kickbacks to financial aid officers in exchange for being listed as a “preferred lender” to incoming students.
(Excerpt) Read more at townhall.com ...
The graft never ends...................
I must admit that when Andrew Cuomo was elected, I expected the worst, but he has actually been a pleasant suprise for NY.
Schumer got ~500K, Sununu ~200K, and I forgot the third member of the Senate committee. ($$$ from student lenders, that is)
Anyway, you no longer can refinance student loans. You're stuck paying the rate that you agreed to.
He brought up the kickbacks to schools, too.
Thanks,Calvin.
Since the government wants to eagerly throw money down thirld-world ratholes, let’s suggest they start helping their own citizens! They can start with student loan amnesty. Anyone who still owes more than $20,000, after 10 or more years of having completed schooling, is automatically cleared!
But you can swap loans at a lower rate.
“The graft never ends...................”
It’s a plank in the dim platform... always been there!
LLS
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