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Nelnet Agrees to Pay $2 Million To Settle With New York Officials
July 31, 2007 6:18 p.m.
OMAHA, Neb. -- Student loan company Nelnet Inc. has agreed to pay $2 million and will quit offering two services as part of a settlement with the New York state attorney general's office.
Officials at the Lincoln-based company disclosed the settlement Tuesday in a call with financial analysts. Nelnet agreed to abide by an industry code of conduct developed by New York Attorney General Andrew Cuomo.
Nelnet officials also predicted Tuesday that the student loan business will become less profitable once new rules Congress is considering are approved, which could hurt borrowers.
More infomation http://studentloan2007.blogspot.com
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