Well, we spoke too soon.
Today the Department of Education, in their infinite wisdom, shut down access to the National Student Loan Database System (NSLDS) to loan holders, guarantors, and lenders, basically anyone other than a student or financial aid office.
Umm....this is exactly what Heller's article in Inside Higher Ed said NOT to do! This action will hold up millions of dollars of loan transactions. The student borrowing function will completely cease to function as a result of this action.
Apparently, the Dept of Ed, is doing this temporarily as a review is conducted to ascertain any shenanigans in NSLDS by lenders/marketers. We have but two questions: 1) why shut down the entire system to conduct the review?; and 2) Are they really just now looking at the problem?
More on this as the situation unfolds.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment