Results tagged “preferredloans”

After being one of many schools implicated in a scandal wherein financial aid workers received gifts from loan companies, Emerson College has settled with its students over the matter. More than 4000 students who were forced to take out loans from "preferred lenders" rather than getting their choice of lender will receive payments of $25 to $833. This is meant to compensate for extra interest the students may have incurred from the preferred loans, thus solving the big problem of loan repayment for a short amount of time. Emerson's former Dean of Enrollment and other financial aid workers (many of whom are still at the college) accepted gifts from institutions such as Citizens Bank and Chase in return for requiring students to take out their loans from these banks. more ›