Lender Allowed to Keep Federal Overpayment of $278-Million

Autor/in	Field, Kelly
Titel	Lender Allowed to Keep Federal Overpayment of $278-Million
Quelle	In: Chronicle of Higher Education, 53 (2007) 22, (1 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0009-5982
Schlagwörter	Grants; Audits (Verification); Accountability; Contracts; Student Loan Programs + Suchen Sie Ihr Suchwort? Grant; Finanzielle Beihilfe; Verantwortung; Vertrag
Abstract	This article reports that the US Education Department has announced that it will not require the National Education Loan Network (Nelnet), a major for-profit student-loan provider based in Nebraska, to return hundreds of millions of dollars in government subsidies, but it will cut off the overpayments going forward. The department will also stop paying lenders at the highest subsidy rate until they can prove, via audit, that they qualify for it. Under the terms of the settlement, announced in January, Nelnet, as the provider is known, will be allowed to keep $278-million in payments that the department's Office of Inspector General said it improperly received from January 2003 through June 2005. It will lose out on an estimated $882-million in future federal subsidies. (ERIC).
Anmerkungen	Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail: circulation@chronicle.com; Web site: http://chronicle.com/
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10