eGrad Student Loan Consolidation Scandal
The student loan consolidator eGrad had a pretty shady deal going with the University of Georgia Alumni Association. Get the details in this installment.
So as the story goes eGrad had an "affinity agreement" going with the UGA Alumni Association. To make a long story short the deal was that the UGA Alumni Association would provide information to graduates about eGrad's services.
On the surface this might not look like such a big deal but there are several factors to consider in this case. The first factor is that the Alumni Association was assuredly not informing the students that they were getting paid to point them to eGrad for student debt consolidation programs. The second is that word "information". We all know what happens when people a vested financial interest in a cause. They begin to say things like "it's the best" or "you should definitely use them".
Student's are bombarded with credit cards from the first day that they set foot on a campus by the little booths at a million little "events" named thing like "bulldog days". They are talked into ruining their credit before they even set foot in a classroom, keep in mind that is it a fact that colleges and universities are getting paid for taking advantage of their students
This particular scandal is just a peek through a tiny pinhole that gives us a look at a brief flash of the corruption and unethical dealings of colleges, universities, and their respective associated organizations with credit card, student loan, and student loan consolidation lenders.
