Nelnet

In the Fall of 2004, the Board of Regents at the University of Nebraska at Lincoln agreed to forge an exclusive deal with student loan provider Nelnet. What most of the Regents did not know at the time was that a Foundation connected to the University owned more than…

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Higher Ed Watch reported on February 1 that the Department of Education has aggressively collected small, inadvertent Impact Aid overpayments to poorly financed public schools serving Native Americans, but forgiven hundreds of millions of dollars in illegally claimed payments to big student loan banks. Meet a collaborator in inconsistency: NBC News.

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Secretary Spellings is hoping that her "forgive and forget" decision on the Nelnet overpayment will find acceptance and move the issue out of the spotlight. Don't bet on it. The 9.5 loan scandal and the Secretary…

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Two years ago, the Administration said it shoveled out the door to student loan banks almost a billion dollars a year in corporate welfare (i.e. excess taxpayer subsidies for improperly claimed 9.5% loan subsidies), because it didn't have the authority to stop runaway claims without going through a public regulatory, negotiated rulemaking process. A month later,

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Some media outlets have suggested that the Education Department's decision last week to reach a settlement with Nelnet "appeared to bring to a close a controversy of more than two years." But nothing could be further from the truth.

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Let's do a quick news roundup of the higher education story of the weekend: the Nelnet settlement.As expected, the Department of Education is portraying Secretary Spellings' decision to suspend future subsidy payments as a defeat for…

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The U.S. Department of Education announced today a settlement with student loan giant Nelnet regarding what the agency's Inspector General has said are some $1.2 billion in improper taxpayer subsidy claims for a special class of student loans that the…

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Activist Outlines Plan to End Affirmative Action

Former California Regent Ward Connerly is predicting the end of affirmative action and race-based preferences. Connerly contends that an "anti-affirmative action wave [is] washing over America" following the victory of Michigan's…

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Secretary of Education Margaret Spellings will decide any day now whether to enforce the Department of Education's Inspector General's recommendation that student loan giant Nelnet be forced to give up $1.2 billion in improperly claimed taxpayer subsidies. That's a big decision that rests in Spellings' two trusted hands.

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Higher Ed Watch has uncovered the Bond Market Association's stealth defense of student loan giant Nelnet's grossly inflated taxpayer subsidy claims.

Note: This post pre-dates Higher Ed Watch's shift to a new publishing system. For the complete original post, including any comments, please click here.