PREFERRED SPENDER
By Lisa LaMotta
Sallie Mae, the largest student lender in the United States, has doled out $2 million to the New York Attorney General’s Office in an attempt to compensate for ripping off already horribly poor college grads. The settlement came after Attorney General Andrew Cuomo outed colleges and universities across the country for getting cozy with the lender. It seems Sallie Mae was giving gifts to financial aid office employees in exchange for being featured on colleges’ preferred lender list. The two million bucks is nothing more than a slap on the wrist, but will be used to educate kids and their parents about financial aid programs—ostensibly about how not to trust them. The company was forced to adopt a student loan code of conduct as well, which basically says it has to become a stand-up business, the kind that doesn’t screw over poor kids who want nothing more than an over-priced education.