More Colleges Sign Student Loan Code

1 decade 2 years 11 months ago Wednesday, June 20 2007 Jun 20, 2007 Wednesday, June 20, 2007 9:41:22 AM CDT June 20, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
JEFFERSON CITY (AP) - Eleven colleges in Missouri have agreed to a code of conduct regarding student loans acording to Attorney General Jay Nixon. He reached a similar agreement in April with Washington University in St. Louis. Nixon says more schools could follow. The University of Missouri system hasn't signed on yet. The agreements follow a national look led by New York's attorney general into loan arrangements that he says favored banks and schools over students. The idea is to protect students from kickbacks paid to colleges by lenders in exchange for steering students their way. Schools are to end revenue sharing agreements with lenders, bar employees from being paid by lenders and disclose ties to loan companies.

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