Education Finance Partners, a San Francisco-based student loan company, has filed for Chapter 7 bankruptcy protection, saying it has less than $1 million in assets and between $10 million and $50 million in liabilities (“ Student Loan Company Files for Bankruptcy in Austin ,” The Austin American-Statesman , Dec. 18, 2008). According to the bankruptcy filing, the student loan company owed the New York attorney general’s office $2.5 million, an amount Education Finance Partners had agreed to pay in order to resolve an investigation that accused the lender of offering more than 60 schools monetary compensation in return for placing the lender on preferred lender lists.
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All Dried Up: Student Loan Provider Files for Bankruptcy
Tags: holdings-inc-, morgan-stanley, New York Attorney General, post, student loan company, texas, that-it-would