LawSchoolLoans.com
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| Saturday, January 12 , 2008 |
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Sallie Mae Hit with Two Lawsuits Claiming Racial Discrimination |
By Carina Zaragoza |
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Two lawsuits were filed against Sallie Mae on Thursday, December 27, 2007, in yet another blow to the business practices of the already hard-hit student loan company. Sallie Mae has come under scrutiny in the past year, beginning with New York Attorney General Andrew Cuomo's investigations into the lending and marketing practices of several student loan companies, of which Sallie Mae was one.
The plaintiffs in both lawsuits claim that Sallie Mae's underwriting practices steer racial minorities into borrowing more expensive education loans. In both lawsuits the interest rates on the education loans borrowed by the plaintiffs skyrocketed and are now more typical of credit card interest rates.
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Student Loan Industry Forecast for 2008
By Carina Zaragoza
2007 saw turmoil in the student lending industry. While in previous years talk centered on federal student loan consolidation, giving the industry a huge boost in business, 2007 was laden with headlines on the questionable practices of not only student loan lenders but also colleges and universities themselves.
Beginning in mid-year, investigations and scrutiny regarding the student lending industry began with New York Attorney General Andrew Cuomo's inquiry into the lending and marketing practices of several student loan companies. This investigation began in July 2007, with the Federal Student Aid office (FSA) sending letters to 921 colleges and universities who seemingly had exclusive relationships with certain lenders. The letters were intended to remind the colleges and universities that they are required to provide borrowers various choices of lenders.
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New Year's Resolutions: Cheers or Jeers?
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By Mahsa Khalilifar
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| Don't write yourself a list of tasks you can't complete in a year's time! |
Take out the pen and paper; it's that time again — the time when many decide to place their bets on themselves. How many of us have done this? Come on; let's be honest. You've secretly made a New Year's resolution or two yourself at some point in your life. It's nothing to be ashamed of, but how realistic are the expectations you are putting on yourself? Sure, we would all love to spend less, give more, or participate in more volunteer work, but are we really making the effort to do such things?
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Federal Customs House to Be Renovated into Memphis Law School
Ownership of the former U.S. Customs House/Postal Office in downtown Memphis was recently transferred to the Tennessee state government, which will use the site for the new University of Memphis Law School. The transfer, which took place on December 3rd, is the final step before initial construction begins on the site sitting at the intersection of Front St. and Monroe Ave. in Memphis. School officials anticipate that the renovation will be complete in early 2009 and expect to enlist 500 students and faculty by the fall of that year.
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Greensboro Charities Receive Donations from Public Interest Law Society
The Public Interest Law Society (PILS) at Elon University School of Law has fulfilled the charitable sentiment of the season through recent donations to the Angel Tree drive for Freedom House and the Salvation Army. Freedom House is an organization which provides aid to substance-addicted single mothers and their children. The donated items included clothing, toys, toiletries, and other basic necessity items. PILS co-president Rheanna Gaskin noted the gratitude of those receiving the donated items in observing, "The mothers at Freedom House were very emotional and extremely overjoyed.
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