20070412

Shady dealings in financing education

This is taken from Banknet360.com

Arizona University Halts Revenue-Sharing Deal With Student Lender

Posted By Aaron Johnson Apr 11 2007 06:02:24 PDT

Arizona State University has cancelled a revenue-sharing deal it had with San Francisco-based Education Finance Partners Inc. amid New York Attorney General Andrew Cuomo’s investigation into the industry.

Cuomo last week threatened to sue the school, which, under its agreement, allowed Education Finance Partners to use the school’s logo on promotional materials and calls for the school financial aid officials to suggest the student lender to prospective student borrowers.

The deal cancellation is just the latest fallout from the nationwide investigation, which includes a handful of lenders and more than 100 schools.

For more information on Cuomo’s investigation, reference past articles posted to BankNet360.com.

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