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Also playing catch-up was Lisa Myers for NBC. The college student loan scandal had already been covered by Armen Keteyian for CBS and Dan Harris (subscription required) for ABC. Myers took the opportunity of Education Secretary Margaret Spellings' appearance at House hearings to summarize the key points of the investigation. Myers told us about double dipping by student loan officers, employed by both bank and college simultaneously. She outlined the kickbacks paid by banks to colleges to steer high-interest-rate business their way. She documented the high-pressure marketing that referred to students as "targets." When some students called college financial aid hotlines, unknowingly, they spoke to loan marketers instead.
Andrew Tyndall 5/11/07 3:02:52 pm

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