| UTSA Tomas Rivera Center receives $129K grant
(Jan. 8, 2008)--The UTSA Tomás Rivera Center for Student Success (TRC) was awarded $129,441 by the TG Public Benefit Grant Program to help provide greater access to higher education and advance graduate student success with a new program. Created by the Texas Legislature in 1979, TG is a public, nonprofit corporation that administers the Federal Family Education Loan Program (FFELP). FFELP formerly was known as the Guaranteed Student Loan Program. TG provides federal student loan guarantees to help ensure access to higher education for millions of students across the country each year. .
ITT Educational confident in 2008 view
CARMEL, Ind. - Post-secondary education provider ITT Educational Services Inc. said Thursday it is "confident" it can achieve 2008 earnings per share of $4.50 to $4.60 despite the reduction in lender subsidies under federal student loan programs and tight credit markets which are pressuring students. Analysts surveyed by Thomson Financial expect full-year profit of $4.47 per share, on average. The company said it expects to continue to improve student retention, but believes future increases in the quarterly persistence rate will moderate from 2007 levels. "Recently, there has been a lot of speculation in the market with respect to the ability of our students to obtain the financing needed to pay their education costs," said Chief Executive Kevin Modany in a statement. "This speculation was caused by a recent reduction in lender subsidies under the federal student loan programs and the current credit crunch that arose from the subprime mortgage crisis." ITT said it has arranged for Bank of America, Chase Education Finance and Citibank, The Student Loan Corp.
Outlook roundup: Sybase, Nucor
DUBLIN, Calif. (AP) _ Database and mobile software maker Sybase Inc. forecast adjusted first-quarter earnings in range of Wall Street's expectations Thursday. CHARLOTTE, N.C. (AP) _ Steel products manufacturer Nucor Corp. warned Thursday its first-quarter 2008 earnings could miss Wall Street expectations, although it expects market conditions for sheet have improved as better customer inventory control has balanced reduced demand. SAN JOSE, Calif. (AP) _ SunPower Corp. lifted its 2008 profit and revenue outlook on Thursday and said it expects to have adequate polysilicon supplies to increase production sixfold by 2010. CARMEL, Ind. (AP) _ Post-secondary education provider ITT Educational Services Inc. said Thursday it is "confident" it can achieve 2008 earnings per share of $4.50 to $4.60 despite the reduction in lender subsidies under federal student loan programs and tight credit markets which are pressuring students.
Legislation enforces regulations on student loans
The $85 billion a year student loan industry faced a lot of scrutiny over the past year with regard to the relationships between universities and alternative lenders. "I am pleased to see the long and deliberative negotiated rulemaking process produce final regulations that are a major step forward in improving the transparency of the student loan programs, ensuring borrower choice and restoring confidence in the federal financial aid programs," said Margaret Spellings, Secretary of Education in a press release. The regulations were drafted after New York's attorney general, Andrew M. Cuomo, conducted an investigation into these university-lender relationships. The investigation found many cases of payoffs, kickbacks, gifts and donations given by alternative lenders to financial aid employees.
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