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Lender's Paradise
BAD BEHAVIOR is not the only reason to scrutinize the federally subsidized student loan business. But it is a good place to start after reports of ethical lapses at student loan firms.
First, an investigation by New York Attorney General Andrew M. Cuomo revealed that financial aid officers at a number of prominent universities held stock in a loan company that they recommended to their students. The company's executives appear to have brokered deals, presumably intended to persuade those university officials to recommend its services. Last week, Mr. Cuomo announced that he will sue Drexel University for sharing revenue with a student loan firm it recommended. Industry groups have insisted that keeping private lenders in the student loan game enhances choice and, therefore, maximizes benefits to students.
Nelnet Reports Strong First-Quarter 2007 Results; Student Loan ...
LINCOLN, Neb., April 27 /PRNewswire-FirstCall/ -- Nelnet, Inc. (NYSE: NNI) today reported GAAP net income for the first-quarter 2007 of $14.8 million, or $0.29 per share, compared with $52.1 million, or $0.96 per share, for the first-quarter 2006. Base net income for the first-quarter 2007 was $27.7 million, or $0.54 per share, compared with $31.6 million, or $0.59 per share, for the same period a year ago. For the first quarter of 2006, base net income excluding the special allowance yield adjustment and net derivative settlements was $20.4 million, or $0.38 per share.
"We continued our focus on the key elements important to delivering sustainable, long-term value," said Mike Dunlap, Nelnet Chairman and Co-Chief Executive Officer. "In the first quarter, we reported strong results in which we delivered on each of these key elements by increasing our student loan assets and diversifying and increasing our fee-based revenue.
Loan Consolidation
Asian cities keen to tower over global finance - Shanghai Daily
Sun, 24 Jun 2007 20:46:57 GMT
| Asian cities keen to tower over global finance Shanghai Daily, China - By William Pesek 2007-6-25 Tokyo, for example, took the No. 3 spot behind London and New York, according to MasterCard Worldwide's Centers of Commerce Index ... |
Finance seeks toll fee tax - Manila Standard Today
Mon, 25 Jun 2007 03:20:46 GMT
| Finance seeks toll fee tax Manila Standard Today, Philippines - By Lawrence Agcaoili THE finance department will impose value-added tax on the services provided by toll road operators to increase revenues following the ... |
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