Student Loan Scheme Being Investigated
Studen Loan Xpress, a student loan company, and officials at Johns Hopkins University are being investigated for a scheme which involved the officials, who are supposed to be unbiased and only steer students in their best interests instead of benefitting from financial gains.
The problem is that an undisclosed kickback scheme was going on where counselors at the school and officials were involved in steering students to get loans from the student loan outfit for kickbacks, some to the tune of many thousands of dollars a year, in exchange for the busienss recommendations.
This may seem perfectly legal, but apparently the whole problem comes in when the officials did not disclose that they were being paid to recommend the student loan to students, and it was not always in the student’s best interest, which is considered steering for financial gains.
The officials records are being investigated, as well as the student loan company. Maybe they didn’t offer the student the best rate for their situation and someone got wind of it or got suspicious, and that’s how authorities at the school were alerted to the problem.
