The Federal Reserve Board ordered Higher One, Inc., a company
specializing in student loans, to pay a fine of $2.2 million in addition
to refunding $24 million in fees to about 570,000 students who opened
accounts with them. The company was also ordered to cease operations for
using their website and marketing materials to deceive students about
fees and costs associated with their offerings. Are loan providers lying
to students? Watch it on the Lip News with Margaret Howell and Jose
Marcelino Ortiz.
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I wonder where that fine is going to go. It would make sense to help all these poor kids offset their loans to begin with otherwise they're going to start the working world with negative finances, and liability is never good!
I wonder where that fine is going to go. It would make sense to help all these poor kids offset their loans to begin with otherwise they're going to start the working world with negative finances, and liability is never good!
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