Lessons From The Loan Scandal.

The article presents information on the student loan scandal in the U.S. and some of the factors to be considered before borrowing. It is stated that the recent disclosure related to kickbacks and consulting fees paid to financial officers have shaken the trust of the public. Senator Edward Moore Kennedy's report exposed the financial aid directors at the University of Texas in Austin. The author advises against taking a private loan before exhausting the governments loan option.