Finally.....

...someone willing to stand up the bullying by Andrew Cuomo -- Drexel University. You see, Drexel had an exclusive arrangement with Education Finance Partners out in the San Fran area. EFP would provide private student loans to Drexel's financial aid office in return, EFP would provide revenue sharing with Drexel University.

Drexel refused to cave into Cuomo's demand for restitution. To avoid too much egg on Cuomo's face, he was forced to file suit against Drexel. To which Drexel responded with the perverbial: "Bring it on!" And there we have it. Drexel will see Cuomo in court over the matter. And we think Drexel has a better than 50-50 shot at winning.

Out in the real world we call this an "affinity marketing" arrangement. There's nothing wrong with this. Open your wallet, take a look at all your credit cards. You probably have 5 or 6. They were probably solicted to you via a group you belong to: your alumni association, NASCAR, your favorite airline, etc. You think those groups just hand over their member list to the credit card company for free? Heck no! They make a bloody fortune off of renting their member list. You can also rest assured that your alumni association, NASCAR, or your favorite airline didn't go out and establish their own credit card program. The cards are probably issued by one of three banks in, you guessed it, an affinity marketing arrangement.

So long as Drexel University officials weren't flown to exotic locations for "conferences", given stock grants, or any other payment otherwise, this exclusive arrangement is just fine. We don't know for sure, but we surmise that Drexel used the money that EFP paid to them to fund scholarship funds, the Unversity general fund, or some other fashion whereupon the University as a whole benefited.

We also cannot confirm this, but if a Drexel student decided not to get their private loan through EFP, then they were free to shop around and do business with whomever they pleased. This is America after all.

So to you, Drexel University, our hat goes off to you and CollegeLoanSearch stands in solidarity with you!