Ted Kennedy has released the Senate Health, Education, Labor and Pensions Committee report on the student loan scandal. Here's a memo from the report describing a list of inducements required by Don Davis, Associate Director of Student Financial Services, UT-Austin, in order for a lender to ascend to the top of the "preferred lender list."
And here's how Student Loan XPress rewarded schools that increased loan volume through the company:
I don't mind school administrators selling their souls to lenders, but I object that the price is so cheap! Gettysburg College officials (who blessedly were not mentioned in Kennedy's report!): if at some time in the future you are thinking of getting in on the college loan scandal, think big. "XPress Athletic Center" has a nice ring to it. Likewise "Chase Chair in Monetary Macroeconomics."
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