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Schools sue graduates on loan defaults
Bloomberg News reports needy borrowers defaulting on almost 1 billion dollars of fed eral Perkins loans, forcing Yale Penn and George Washington to sue former students. Defaults rose 20 percent over five years to 964 million in the year to June 2011, as colleges manage funds to aid other low income students.
MENTIONED IN THIS ARTICLE
New York
U.S
Yale
University of Pennsylvania
Penn
George Washington University
Deanne Loonin
National Consumer Law Center
Boston