Chairman Miller Requests Information From Student Lenders Regarding College Loan Practices

Thursday, March 29, 2007

WASHINGTON, DC -- U.S. Rep. George Miller (D-CA), the chairman of the House Education and Labor Committee, today sent letters to the nation's top five college student loan providers requesting information regarding their relationships with colleges financial aid offices. Recent news reports have revealed that some private lenders offer gifts or other questionable incentives to colleges that agree to encourage students to take out their education loans with those specific lenders. Miller, along with other Democratic members of the Education and Labor Committee, recently introduced legislation, the Student Loan Sunshine Act, that would require lenders and institutions to provide full disclosure of the terms of their relationships.

To see the letter from the chairman to Sallie Mae Corporation, click here.

To see the letter from the chairman to Citibank/The Student Loan Corporation, click here.

To see the letter from the chairman to Bank of America, click here.

To see the letter from the chairman to Wells Fargo & Company, click here.

To see the letter from the chairman to JP Morgan Chase & Co., click here.

To see the information requested from the student loan providers, click here.

For more information on the Student Loan Sunshine Act, click here.

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FOR IMMEDIATE RELEASE
Contact: Tom Kiley / Rachel Racusen
2181 Rayburn House Office Building
Washington, DC 20515
202-226-0853