| Student loans and the current practices from which | | | | service for recommending certain lenders. This is or |
| they are presented, at the college level advisories, is | | | | soon will be an illegal act. |
| finally going under federal reviews. For far too long, | | | | When an institution is charging a fee for services |
| colleges and universities have been compensated by | | | | rendered, an education in this example, and they are |
| major lending institutions at the expense of the | | | | a party to steering you toward a third party for |
| college students in attendance at these same | | | | financial assistance, with kick-backs for doing this, |
| universities, when suggesting or steering unsuspecting | | | | they are double-dipping for a single service or are |
| students toward kick-back lenders. | | | | receiving payments twice for a single service. |
| Acquiring a higher level of learning comes with a price | | | | Student loans have been in existence for as long as |
| and rightfully so, but when the higher education | | | | there have been colleges and universities, and the |
| comes with a kick-back to the colleges and | | | | need for financial assistance will continue. The new |
| universities aside from the tuition and fees associated | | | | federal review and investigations should bring an end |
| with the education package, then there is definitely a | | | | to the double collecting or steering the colleges from |
| cause for serious concern. | | | | receiving payments or payments in kind from the |
| To explain this, let's say you are enrolled at college | | | | student loan lenders. |
| and you're expected to pay your tuition and | | | | Car dealers practice this method of double dipping as |
| expected fees, then you are obviously short on | | | | well. You buy a car from them, and you need |
| funds and need financial assistance to pay the tuition. | | | | financing, the lenders they suggest or offer in the |
| You seek financial aid and ask the college financial | | | | deal, can and do receive a similar kick-back from the |
| counselor what options you have. When they make | | | | lending institutions by charging you a higher interest |
| suggestions as to whom you should or could, obtain | | | | rate and the lender gives a percentage of the loan |
| student loans from, they are often 'steering' you | | | | back to the dealership. Student loans should not be in |
| toward a lending institution that is providing | | | | the same underhanded business as buying a car. |
| payments, special paid trips, or vacations, to the | | | | Obtaining an education is not the same as buying a |
| college or to certain college staff members for that | | | | car or is it? |