July 25, 2007
A major student loan company has announced it will stop paying college alumni associations,
including some in Texas, for exclusively pitching the company to graduates wanting
to consolidate their student loans.
Nelnet, based in Lincoln, Neb., has decided to end agreements with about 110 alumni groups amid a national crackdown on questionable student lending practices. The decision affects at least four alumni groups in Texas: those with the University of Texas campuses at Arlington, San Antonio and Tyler; and Texas Tech University.