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Financial Aid in the News

Iowa: Culver Signs Student Loan Protection Bill (Associated Press)

"Gov. Chet Culver on Monday signed into law a measure tightening protections for students getting college loans and ensuring that there's no sweetheart arrangement between lenders and college financial aid officials," the Associated Press reports. "Culver signed the measure at Iowa State University, where students graduate with the heaviest debt load of the state's three public universities. "The new law was sparked in part by reports in other states that lenders gave gifts to college financial aid officials who steered students to their firms. It bans lenders from offering gifts 'in exchange for any advantage or consideration of its educational loan products.' Under the measure, college financial aid workers are required to tell students of all the available options for getting assistance, including private, state, local and federal loans. The state's attorney general also gets the authority to oversee the program and enforce the structures in the new law."

You can read the complete May 5, 2008 Associated Press article on-line.

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