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Another Student Loan Co. Settles With AGs

Law360 (December 11, 2007, 12:00 AM EST) -- A student loan consolidation company settled allegations Tuesday that it was involved in a revenue-sharing scheme to provide financial incentives to top universities, school athletic agreements and sports marketing firms in exchange for generating loan applications.

A four-month investigation by the New York and Florida attorneys general offices found that Florida-based Student Financial Services, which does business as University Financial Services, paid for the rights to use school names, team names, colors, mascots and logos to advertise its loans directly to students.

The practice, known as...
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