Schools adopt code for student lending in wake of Cuomo inquiry on revenue-sharing

Parents Forum
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A new code of conduct for loan arrangements adopted by three dozen schools and a student loan provider “will ensure integrity in the student loan process,” state Attorney General Andrew Cuomo said Monday.</p>

<p>Six of the schools have also agreed to reimburse students a total of $3.27 million. And Citibank, which does business at about 3,000 schools, agreed to put $2 million toward a national fund that would educate students and parents about the financial-aid industry.</p>

<p><a href=“http://timesunion.com/AspStories/story.asp?storyID=577494&category=STATE&BCCode=&newsdate=4/3/2007&TextPage=2[/url]”>http://timesunion.com/AspStories/story.asp?storyID=577494&category=STATE&BCCode=&newsdate=4/3/2007&TextPage=2&lt;/a&gt;&lt;/p&gt;

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Education Finance Partners, a student loan company that investigators found had paid at least 60 colleges and universities across the country for steering students to its loans, has agreed to pay $2.5 million to resolve an investigation of its practices by the New York attorney general, according to lawyers who have taken part in the negotiations.</p>

<p>The company, based in San Francisco, is now the third lender to reach such a deal with Andrew M. Cuomo, the attorney general, and to agree to change some of the ways it seeks business from universities.</p>

<p><a href=“http://www.nytimes.com/2007/04/16/education/16direct.html?_r=1&oref=slogin[/url]”>http://www.nytimes.com/2007/04/16/education/16direct.html?_r=1&oref=slogin&lt;/a&gt;&lt;/p&gt;

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Penn is now part of SUNY?</p>

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<p>^^^^ Yes, they could have used a copy editor up there at the Times Union.</p>