Resources on Preferred Lender Program Investigations and Practices

Statutes and Regulations re Preferred Lender Programs

Higher Education Act Sections
Regulations
Guidance
Alert Memorandum
OIG Reports
GAO Reports
2007 Pre-Decisional Draft Regulations -- Department of Education Negotiated Rule-Making
Proposed Legislation
Related Activity

New York Attorney General Student Lending Site

American Council on Education (ACE) Documents

NAFSA Announcements

NASFAA Documents

Media Coverage

NACUA Outlines

JCUL Articles

Statutes and Regulations re Preferred Lender Programs

Higher Education Act

The Higher Education Opportunity Act, P.L. 110-315 (2008)
Regulations

34 CFR Parts 601, 668, 674, 682, and 685: Department of Education Final Rules re Preferred Lender Arrangements

34 CFR 674, 682, and 685

34 CFR 682.212

34 CFR 682.401(e)

34 CFR 682.603

November 1, 2007: Final Department of Education Regulations on Preferred Lender Lists, Prohibited Inducements and Permissible Activities

Guidance

October 28, 2009 Department of Education Final Rules re Preferred Lender Arrangements

February, 1989 Letter Inducements Prohibited Under Stafford Loan, Supplemental Loans for Students, Plus and Consolidation Loan Programs

March 1, 1995 Letter Limitations on Lending by Schools and Prohibition on Inducements to Schools by Lenders Must be Observed

August 10, 1999 Proposed FFELP and Direct Loan Regulations (see pp.3 - 4 for list of activities that will not jeopardize a lender's status as an eligible lender).

March 29, 2007 Department of Education Letter re Choice of Lender

June 2007 Letter from Department of Education to 921 Institutions re Student Choice of Lender

August 9, 2007 Letter from Secretary of Education to Colleges, Lenders and Loan Guaranty

November 2, 2007 Department of Education Letter Seeking Preferred Lender Information

Department of Education Preferred Lender Lists

Department of Education Letter Seeking Preferred Lender Information

Alert Memorandum

August 1, 2003 Memorandum of Department of Education Office of Inspector General on Review of Lender Inducements

OIG Reports

*OIG Reports September 2006 Final Audit Report, Department of Education, Office of Inspector General (OIG): Review of Financial Partners’ Monitoring and Oversight of Guaranty Agencies, Lenders, and Servicers
GAO Reports

January 25, 2005 GAO Report: More Oversight is Needed for Schools That Are Lenders (pp. 22 - 26)

Federal Family Education Loan Program: Increased Department of Education Oversight of Lender and School Activities Needed to Help Ensure Program Compliance

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American Council on Education (ACE) Documents

April 16, 2007 Letter to Presidents and Chancellors

April 16, 2007 Background Information for Presidents and Chancellors on Recent Controversy Involving Student Loans

April 16, 2007 Code of Conduct Summary Chart

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NAFSA

August 15, 2007 NAFSA to Convene Task Force to Study Institutional Management Issues in Study Abroad

January, 2008 Strengthening Study Abroad: Recommendations for Effective Institutional Management for Presidents, Senior Administrators, and Study Abroad Professionals

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NASFAA

NASFAA Statement of Ethical Principles

NASFAA Mongraph: Guide to Developing a Preferred Lender List

March 2006 Avoiding Illegal Lender Inducements / Blain B. Butner and Aaron D. Lacey (Student Aid Transcript, NASFAA)

March 19, 2007 Letter to NY Attorney General Andrew Cuomo

April 11, 2007 Wall Street Journal Offers a Critical Look at NASFAA Policy Decision

April 23, 2007 NASFAA Board Adopts Resolution to Develop Code of Conduct

June 28, 2007 Message to Members from NASFAA President on Recent Events in Student Loan Industry

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Other Documents

August 31, 2009 Reporting and Disclosure Requirements for Institutions of Higher Education to Participate in Federal Student Aid Programs Under Title IV of the Higher Education Act, (David P. Smole, CRS)

March 23, 2007 Minnesota Attorney General Press Release

Minnesota Attorney General Student Loan Guide

April 2, 2007 Statement by University of Pennsylvania

Illegal Inducements and Preferred Lender Lists (from FinAid.org)

Student Loan Marketing Association v. Riley 112 F. Supp. 2d 38 (D.D.C. 2000)

April 10, 2007 Letter from South Carolina Office of Attorney General to Office of New York Attorney General

Special Report: The Student Loan Scandal (The New America Foundation)

November 2004 Guidelines for FFELP Industry Practices issued by the Consumer Bankers Association (CBA), the Education Finance Council (EFC) and The National Council of Higher Education Loan Programs

Nelnet Agreement with Nebraska Attorney General

Nelnet Code of Conduct

April 23, 2007 Missouri Attorney General Press Release re Washington University

Missouri et al. v. Washington University--Stipulation and Assurance of Voluntary Compliance

April 25, 2007 Johns Hopkins University Press Release

April 27, 2007 AAU Statement of Principles on Relationships with Student Loan Providers

New York S4524 "Student Lending Accountability, Transparency and Enforcement (SLATE) Act (as passed by NY State Senate)

Law Firm Analysis of Application of New York Law to Institutional Preferred Lender Relationships

May 14, 2007 University of Texas Special Investigative Report

Honest Lending, Fair Lending: A Guide to Exposing Conflicts of Interest in School Financial Aid Offices (CampusProgress.org)

Agreement between University of Texas-Austin and Texas Attorney General

Press Release by Texas Attorney General's Office

CASE Statement Regarding Alumni Associations and Loan Consolidators

Comparison of Federal and State Legislation, Federal Regulations and Voluntary Codes of Conduct (Project on Student Debt)

Sample Provisions from a Selection of Pending and Enacted Legislation, Regulations and Codes of Conduct / Joel M. Rudnick. Presented at the 47th NACUA Annual Conference, June 2007.

July 2007 Helping Families Finance College: Improved Student Loan Disclosures and Counseling / Consumers Union.

September 5, 2007 New Jersey Attorney General: New Jersey Student Loan Code of Conduct for Institutions of Higher Education

Connecticut Attorney General Code of Conduct for Private Institutions

Comparison of Current/Proposed Laws and Codes of Conduct Related to Student Loan Practices Revised June 4, 2007 (University of California)

New Jersey Student Loan Code of Conduct for Institutions of Higher Education

July 29, 2008 New Ethics Rules for Admissions Consultants (InsideHigherEd.com)

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NACUA OUtlines

Jones, Brian W. Student Lending and Access to Higher Education: New Institutional Responsibilities (2009 Annual Conference)

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JCUL Articles

Ryan G. Milligan, Financial Band-Aid: Reactionary Fixes to Federal Family Education Loan Program Inducement Guidelines Solve Some Problems, Raise Others

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NACUA Clearinghouse of Training Materials for the Practice of Preventive Law in Higher Education.