Source:
ReutersCongress tackles student loans as new abuses citedTue Sep 4, 2007 4:59PM EDT
By Kevin Drawbaugh
WASHINGTON (Reuters) - With Congress poised to act within
days on reforming the $85-billion student loan industry, Sen.
Edward Kennedy released a report on Tuesday alleging more
instances of marketing misconduct among lenders and colleges.
The Massachusetts Democrat, chairman of the Senate
Education Committee, said the panel's investigative report
details improper ties among lenders, universities and alumni
groups focused on winning preferential treatment for lenders.
"The findings of the report underscore the urgent need for
reform of the student loan system," he said in a statement.
Senate and House of Representatives negotiators are getting
closer to finalizing a student loan bill to send to the White
House based on measures approved earlier this year by both
chambers. Senate Majority Leader Harry Reid said on Tuesday
he expects the Senate to finish the bill by the end of the week.
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http://www.reuters.com/article/politicsNews/idUSN0441475820070904