IU caught up in student-loan inquiry

IU caught up in student-loan inquiry

There are 43 comments on the The Indianapolis Star story from May 10, 2007, titled IU caught up in student-loan inquiry. In it, The Indianapolis Star reports that:

Some Indiana colleges may be forced to change their relationships with student loan providers as investigators and Congress crack down on ethically questionable practices.

Join the discussion below, or Read more at The Indianapolis Star.

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David

Kenosha, WI

#1 May 11, 2007
Time for some people in Bloomington to lose their jobs. Its typical of our nation's colleges and universities that a school that teaches ethics doesn't feel the need to use them in its own business dealings regarding students. Many students are paying more now because of this deal.

We, as a state, will be watching to see if people get fired or is it business as usual in Bloominton
reality bites

Kokomo, IN

#2 May 11, 2007
This only confirms what I've known all along, that the colleges don't give a rat's behind about the students, it's all about the money. And now that we have millions of dollars floating around out there for students who barely finish HS and happen to have the right color skin or their parents happened to make choices that put them in the poor house, there is no such thing as a true "Merit" scholarship anymore.
Jay

United States

#3 May 11, 2007
Bribery in higher ed ? No way !
John

Indianapolis, IN

#5 May 11, 2007
welcome to higher education. It's the greatest scam of our time. 4 years for a piece of paper that doesn't do anything for you.
HOOSIER WALLY

Fort Wayne, IN

#6 May 11, 2007
It's about time someone looked a little closer. IU does not care about the student. I battled every semester between the bursars office and Sallie Mae. My son's money would not be dispersed until 6- 8 weeks after a semester was started and sometimes only 50 % until the semester was half over. Meanwhile my money that I signed for to pay back was drawing intrest by the day for IU. Then the university takes the entire intuition up front while a few dollars are left to pay rent ,etc.

Quite an operation they have going in Bloomington.
mikal

United States

#7 May 11, 2007
When I was in college in the 1970s the federal government subsidized the loans. Now that Republicans run our government, they've privatized everything they can which is why we have this kind of thing going on.

Why don't people draw the connection between Republicans and the widening gap between rich and poor? Many poor kids can't afford to go to college anymore because the costs for tuition and the interest rates on the loans are too high.
who wants to bet

Lutz, FL

#8 May 11, 2007
They all get off free and clear with a simple fine that is much less than the monies they made pulling off their scam. No one loses a job. Someone will actually get promoted. I'm sure Vegas will be running a line on this one.
Truth

Milwaukee, WI

#9 May 11, 2007
Wow! Will you ever get out of your hate boat...your racial prejudice is severly impairing your ability to think logically!

reality bites wrote:
This only confirms what I've known all along, that the colleges don't give a rat's behind about the students, it's all about the money. And now that we have millions of dollars floating around out there for students who barely finish HS and happen to have the right color skin or their parents happened to make choices that put them in the poor house, there is no such thing as a true "Merit" scholarship anymore.
Truth

Milwaukee, WI

#10 May 11, 2007
*severley
Frances

Collinwood, TN

#11 May 11, 2007
Like you, Hoosier Wally, I am watching this with great interest. My daughter's student loan experience at IU has been kind of a nightmare. Don't know what I'll do if I discover that any of the improper shenanigans contributed to this. We'll have to wait and see.

Since: Dec 06

Indianapolis, IN

#12 May 11, 2007
Q. Who do you can when you have questions about student loans?

A. Anyone but the university. You'll have to determine who the predators ae all on your own.
Idiot Detector

Muncie, IN

#13 May 11, 2007
mikal wrote:
When I was in college in the 1970s the federal government subsidized the loans. Now that Republicans run our government, they've privatized everything they can which is why we have this kind of thing going on.
Why don't people draw the connection between Republicans and the widening gap between rich and poor? Many poor kids can't afford to go to college anymore because the costs for tuition and the interest rates on the loans are too high.
So let me get this right, you are saying that because of Republicans liberal Universities have corrupted the student loan program. You Sir are an idiot
Voice of Truth

Muncie, IN

#14 May 11, 2007
Universities sell their souls for the all mighty dollar. They fought the Federal government on restrictions on foreign students from countries that sponsor terrorists. Many of the leaders of Al Qaeda studied at US Universities
Pay more attention

Reston, VA

#15 May 11, 2007
Ted Kennedy has his own agenda. The federal (Democrat) student loan program is a disaster ... operation is inefficient, service is non-existant, money is LOST. The direct lending program can't stand up to an audit ... where is all their money? Who is profitting there. Sallie Mae complies with rules & laws developed to protect shareholders AND still makes a profit. Who is watching the government? Who holds them responsible? Are they so ethical?
Equal Opportunity Critic

Indianapolis, IN

#16 May 11, 2007
The government probe also needs to look into non-accredited schools. "Schools", such as TechSkills, have a very "unique" relationship with Sallie Mae where the dispersments are paid in a few installments, two to the school and one to the students, which the student signs over to the school. Additionally, their "finance people" only have two lenders: Sallie Mae and another company that charges an 18% interest rate.

Simply put, the kickbacks are far more entrenched in the the schools' financial aide departments than these probes will reveal.
Advocate

Indianapolis, IN

#17 May 11, 2007
Are these the same college administrators who would kick a student athelete out of school for accepting a pair of tennis shoes?
individual

San Jose, CA

#20 May 11, 2007
As in government and majority of non-profit sector, higher education is about lining the pockets of the employees and adding more mandarins to the payroll. Naturally the loser is the taxpayer or donor who's funding their misdeeeds. Taxation is forced upon everyone, but why in world would anyone donate monies to any venture other than church? Ask yourself before donating one dime, if this agency would disappear if their "cause" disappeared? The answer is a resounding NO. The last thing most want is a 'cure for their disease.' That stops their gravy train. So stop donating. Expose these miscreants.
individual

San Jose, CA

#21 May 11, 2007
Gary Moody -- Franklin wrote:
"Indiana Attorney General Steve Carter said he doesn't believe his office has received complaints from students or their families about student loan practices."
Because if those people did contact his office, they'd probably get the brush-off from Carter's disinterested flunkies. Why is it that the state of New York has pro-active AG's who lead the nation in rooting out crime and corruption, and protecting citizens, and Indiana is stuck with a do-little slug like Carter? Many answers to that question, among them the fact that Hoosiers don't demand higher standards from their "public servants".
Agree ... there is absolutely NO standard for bureaucrats. Not one has their job performance measured against standards beneficial to the one paying their tab, ie. the taxpayers. And regardless of economic conditions, not one bureaucrat is ever found to be unneeded or unaffordable. It's a political patronage system of spoils at the expense of the taxpayers. And the politicians and bureaucrats won't change until voters refuse to re-elect incumbents. Turn every rascal out! Then if the elected replacement doesn't practice proper stewardship of taxpayers monies, refuse to re-elect them. Until voters take over, the elected and the bureaucracy will keep their snouts deep in the taxpayers trough.
Jules

Indianapolis, IN

#22 May 11, 2007
And don't even get me started on how they rip off students when it comes to textbooks. Do you know that the IUPUI bookstore is usually only willing to pay you more for your books when it's time to sell them back during the week BEFORE finals??? Who sells their books back the week before finals? And this is even if they accept your textbooks back for money at all. I spent $600 last semester on all new books and got back $70. What a scam.
whatever

Reston, VA

#23 May 11, 2007
Stop whining and go to a cheaper college. Apply for scholarships and grants, they are out there if you look hard enough.

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