
Financial Aid in the News
Chase Confirms That It Will Stop Making Loans To Students At Some Institutions (The Chronicle of Higher Education)
"Chase Education Finance, the seventh-largest originator of federal student loans, confirmed today that it would no longer make federal loans to students who attend certain high-risk institutions," The Chronicle of Higher Education reports. "Thomas A. Kelly, a spokesman for the lender, the student-loan division of JP Morgan Chase & Company, said Chase had conducted a college-by-college review 'based on the payment history of the alumni and other factors' and decided to stop lending at institutions that 'don’t meet our profitability standards.' He refused to say how many colleges would be affected, or how big a role institutional default rates had played in the decision to drop those colleges. He said the institutions were 'not necessarily' all community colleges."
You can read the complete April 15, 2008 Chronicle of Higher Education article on-line.
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