September 26, 2021

MP Now News

Mortgage News

Public colleges and universities under fire for promoting controversial education loans

A report released Friday by the Student Borrower Protection Center (SBPC) accuses schools like Virginia Tech and Indiana University of sponsoring specialty finance firms that can charge double-digit rates on loans with obscure terms. The advocacy group, founded by former Consumer Financial Protection Bureau official Seth Frotman, says colleges could break federal rules by not disclosing agreements with lenders.