Oct 13, 2006
EdFed News Wire

America's Top Student Loan Consolidator
Friday, October 13 , 2006
Understanding Your Credit
By Carleen Trapp
What is a credit score? What actions help or hurt my credit? How can I improve or maintain my credit score? It's all very confusing to the average borrower, but such information is essential knowledge if you want to make smarter financial decisions. This article will help you make sense of it all so that you can get-and maintain-a good credit score. We've all been there. While browsing through your favorite store, you see something you really like. Maybe it's on sale. You really can't afford it, but how can you pass it up? You may not get another chance to buy it at this price again. You've got the answer. You'll charge it! After all, that's what your credit card is for; right?

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Fraud at Barton

By Charisse Dengler

On Monday, October 2, the last of eight people associated with fraud charges at Barton Community College were sentenced to jail time by a federal judge. The reason for the sentencing was "institutionalized fraudulent conduct." In addition to the sentencing of these eight individuals, the fraudulent activity led to the dismissal of the college's president.

Ryan Cross, a basketball coach, and Neil Elliott, the school's athletic director, received sentences of four months in federal prison and three years of probation. Elliott admitted to obtaining a medical hardship ruling for a member of the basketball team in order to allow the player to participate for another year, even though the player was not eligible for the ruling.

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HEA extender bill signed into law

After Congress passed the Third Higher Education Extension Act of 2006 by unanimous consent, President Bush signed it into law. However, although the bill met with Bush's approval, Senator Mike Enzi, Chairman of the Senate Health, Education, Labor, and Pensions (HELP) Committee, said Congress needs to move ahead with comprehensive reauthorization legislation. Justifying his stand, Enzi stated that yearly extensions of HEA provisions will not assist in achieving the primary objectives set for higher education, which include expanding access, lowering costs, and increasing accountability, as the present situation requires long-term solutions.
PHEAA comes under federal investigation

An alleged instance of government overpayment to the Pennsylvania Higher Education Assistance Agency (PHEAA) is currently under federal investigation. The probe, conducted by the U.S. Department of Education's inspector general, is being undertaken to ascertain if any loopholes have been capitalized on by the college loan program. Earlier, two audits along the same lines were carried out on other lenders to determine whether they too benefited illegally by exploiting the "9.5 loan loophole." Education Department spokesperson Catherine Grant has stated that a PHEAA audit will reveal any inappropriate benefits gained by the agency because of the said loophole.

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