Lawschoolloans Newswire on Barton Fraud, Crdeit Understanding, HEA & PHEAA
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| Thursday, February 7 , 2008 |
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Major Lender Exits FFEL Program |
By Carina Zaragoza |
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College Loan Corporation, the eighth-largest Federal Family Education Loan Program (FFELP) lender in the country, will exit the FFELP business on March 1, 2008.
The announcement came Thursday, January 31, 2008, in a statement made by the company's CEO, Cary Katz. He stated that "recent Congressional action has decimated the Federal Family Education Loan Program, essentially making it impossible for midsized companies like College Loan Corporation to participate in the federal loan marketplace. In addition, continuing disruptions in the credit markets have compounded the impact of the legislation."
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Endowments of Some Colleges Questioned
By Carina Zaragoza
The leaders of the Senate Finance Committee wrote to 136 colleges around the country regarding the colleges' endowment funds. Senators Max Baucus (D-MT) and Charles Grassley (R-IA) asked colleges with endowments of $500 million or more a series of questions about their endowments and spending on student aid. Their letter was made public in a press release dated Thursday, January 24, 2008.
Specifically, the senators are seeking to delve deep into the spending practices and governance of the colleges with the largest endowments.
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Roommates: Talks Will Help You Avoid Troubles
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By Mahsa Khalilifar
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| Entrepreneur Jennifer Eichenberg says that having an open conversation with a roommate as soon as you move in will save you a lot of grief and frustration in the long run. |
It's back to school once again, except this time you're older and more independent...well, presumably. However, your budget for law school is probably not as fortunate, meaning it's time to snatch up one of the first cheap but decent spaces you come across. Usually this means having a roommate or maybe (gasp) even two.
Oh, the joys of roommate living. While a lot of people would rather live alone, due to financial reasons, many end up opting for this sort of living situation, especially earlier in life. Many times, though, people jump into living situations without realizing the consequences and repercussions.
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UCLA Gets Center on Climate Change
Thanks to a donation and a matching-gift challenge, $10 million will fund a new center for the University of California — Los Angeles School of Law. The donation was initiated by Dan Emmett, who is a real estate businessman in Santa Monica, CA. The center will focus on the environment and climate change. A law clinic and a law and policy program are the main foci as of now for the center.
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St. Mary's Gets Thousands
Texas Attorney General Greg Abbott has given a generous donation to the St. Mary's University School of Law on behalf of the state. The money came from a lawsuit involving a local company. The company, Mark Nutritionals, claimed that its products would help people lose weight.
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