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Legislation Causes the College Board to Leave Lending

Non-Profit ‘College Board’ Leaves Loan Business

Angela Januzzi

August 24, 2007 

Due to pending legislation that would prohibit loan companies from using incentives to sway schools towards working with them, some organizations are getting out now, while they still can do so safely. 

The College Board, responsible for the Advanced Placement exam system, is realizing that its typical business practices may interfere with the future legislation. The organization reimburses travel and lodging for the educational administrators with whom they discuss policy, admissions, and other related topics. 

“We understand and respect the intent of this new legislation and these new codes, but the end result is that we’re not able to reimburse our members for travel and lodging,” said Edna Johnson, a College Board spokeswoman. The organization is thereby halting its loan program to avoid any possible future accusations. 

 

Source: Glater, Jonathan. “College Board Quites the Loan Business.” www.nytimes.com. Posted: August 23, 2007.

Submitted by patrick.sutton on August 24, 2007 - 12:26pm in
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