Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Trial News
Cuomo Announces First Legal Action Against A School In Student Loan Investigation
Today Attorney General Andrew M. Cuomo announced the first legal action against a school in his nationwide student loan investigation. Cuomo announced a notice of intent to sue Drexel University in Pennsylvania over its revenue sharing agreements with Education Finance Partners. This week, Education Finance Partners (EFP) agreed to Cuomo’s College Loan Code of Conduct and would end revenue sharing agreements. Cuomo also announced settlement agreements with three more schools: Salve Regina in Rhode Island, Pace University and the New York Institute of Technology. Salve Regina and Molloy College both had revenue sharing agreements with Education Finance Partners.
Previously, Fordham University, St. John’s University, and Long Island University all agreed to cease their revenue sharing agreements with EFP and reimburse students on a pro rata basis for the money received through those agreements.
Drexel received over $124,000 from its revenue sharing agreements with EFP and accrued $126,000 more through March 2007 that has not been paid. Under Drexel’s agreement with EFP, dated April 1, 2006, Drexel agreed to make EFP its “sole preferred private loan provider.” In return, Drexel was to receive 75 basis points (.75 percent) of the net value of referred loans between $1 and $24,999,999; and 100 basis point (1 percent) of all loan amounts of $25,000,000 or greater. Drexel had an earlier revenue sharing agreement with EFP that began in May of 2005 under which Drexel received 75 basis points (75%) of all referred loans. EFP was a non-exclusive preferred lender under the earlier contract. Since 2005, Drexel University has sent over $16 million in loan volume to EFP. Read more at oag.state.ny.us.
Latest news about Attorneys Connecticut.com cases in Connecticut and nationwide:
Libel Law In The United States
Libel is a legal term that describes a written form of defamation, which the dictionary defines as a "false or unjustified injury to someone's good... Read more >
Jurors' Duties During The Trial
Do not talk to others about the case. This responsibility requires that you not talk at all with the lawyers, witnesses, or anyone else connected w... Read more >
If you live in the following cities and need an Trial-Lawyer attorney you should contact
our Trial-Lawyer Attorney as soon as possible:
Branford
Bridgeport
Bristol
Cheshire
Danbury
East Hartford
East Haven
Enfield
Fairfield
Glastonbury
Greenwich
Groton
Guilford
Hamden
Hartford
Manchester
Meriden
Middletown
Milford
Naugatuck
New Britain
New Haven
New London
New Milford
Newington
North Haven
Norwalk
Norwich
Ridgefield
Shelton
South Windsor
Southington
Stamford
Stratford
Torrington
Trumbull
Vernon Rockville
Wallingford
Waterbury
West Haven
Westport
Wethersfield
Windsor
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Trial Attorneys Connecticut.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?