Another Student Lender Settles Kickback Allegations

Law360, New York (July 20, 2007, 12:00 AM EDT) -- The seventh-largest student loan provider in the United States, College Loan Corp., has agreed to pay $500,000 to settle allegations that it provided kickbacks to colleges in return for placement on the schools’ preferred lender lists, New York State Attorney General Andrew Cuomo said Friday.

CLC is the eleventh student loan company to reach an agreement with Cuomo. The settlement money will go towards the fund Cuomo created for the education and assistance of high school students and their parents. Since starting his investigation into the...
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