Council Offers Bankers a Secondary Student Loan Collection

WASHINGTON, Sept. 18 /PRNewswire/ -- The Council for Education (Council) formally announced a program titled: Assured Lender; a program to advise and represent banks on the collection of student loans before the United States Federal Reserve.

The Council is offering a service that will allow for the collection of 14.8 million student loans by financial institutions under the federal provisions of the Higher Education Act. The program is designed as a secondary method of collection for underwriters exposed to private and government student loans.

The Council is in discussions with members of Congress on the subject of academic fraud regarding the administration of student loans by a number of colleges and universities, and to provide specific detail of those violations as defined under the provisions of the Higher Education Act.

The Council investigates reports of academic fraud under the provisions of the Higher Education Act, which governs all U.S. colleges and universities. The Council has a pending 501(c)(3) tax exemption application with the I.R.S. and encourages contributions. For more information, contact the Council by Phone or visit the organization's web site at counciledu.org .