This is such an outrage. Cumo should not be settling with these creeps, they need to be in jail. Congress should pass a sarbines-oxley type of legislation for these jerks, it should be made to apply to schools too since they are the other half of this, and many of them seem to inflate employment and starting salary stats. The "education" IS the new Enron.

I just cant believe that this would be happening in this country. I am a USA born 20yr old Hispanic, soon-to-be pre-med student, and since I can remember I've had to take out loans because my parents make "too much" money for me to get any federal aid. Why would the gov. allow these loans companies to let students, who are trying to better themselves, go into such debt? I would figure that it would be easier to go to school then not to go. It doesnt make any sense for these companies to take advantage of students that have no other choice but to apply for loans. I hope every last one of them gets exactly what they deserve, and thats JAIL TIME! They sure a hell shouldnt be getting free unauthories "PERKS" when students like me are working hard to have a better life and are doing it legally.

I honestly can say that my son has been using Sally Mae loans with a larger interest rate than I thought he should be paying back. My question is how or will there be any retribution to students that applied for student loans in Texas schools? My son still has one more year to go before he will be considered for law school and there we go again applying for more loans.

Actually, if you read the reports carefully you'll see that the AG’s office clearly acknowledged that Sallie Mae did not participate in some of the most egregious activities, such as profit sharing between lenders and higher education institutions, offering stock to financial aid officials or providing payments to schools in exchange for loan volumes. In fact, AG’s office stated that many of the practices it is investigating do not apply to Sallie Mae.
So sending them all to jail might be a little harsh.

I have 2 student loans with Sallie Mae and I want to know if I have been over charge in fee too, I was going to College in Los Aneles
Thank you
Myrtle Cooley

The New York State Attorney General report might not have seen this but many schools only use Sallie Mae as their lender, even though by law the student can get their loans through a lender of their choice. I have seen times when students are pulled from school due to the school's unwillingness to take a Federal student loan through another lender. The parents and students follow all requirements to receive their Federal aid just to be turned away by the school. It’s about time that the Gov comes in and checks the lenders and Universities.

I think it is totally unfair when you go to college the college tells you who your loans will come from and that you do not choose. I also think it is totally unfair that when you graduate and attempt to consolidate your loans that if all yor loans are held by Sallie Mae you cannot consolidate with any one else but Sallie Mae.