New NYT article on college affordability

The New York times ran an article on college affordability yesterday, but they take a slightly unusual approach. The article, "Even at Costliest College, Unease Over Downturn" focuses on the effects the Wall Street meltdown has had on the costliest campus in the nation, Sarah Lawrence. You can read the complete article here.

Avoid Goal Financial at all costs

The attorney general of New York is prepping a lawsuit against Goal Financial for luring students with cash and prizes and misleading customers about loan terms and benefits. Some of Goal's marketing materials not only offered incentives to sign up friends, but also used misleading advertising to coerce students into signing up for private loans instead of federal, probably because of the high commissions paid to Goal Financial by private lending companies.

Goal Financial is also the owner of the website eStudentLoan.com. The site has been marketed as a way to compare student loans and find the best rates. However, only companies that pay a commission to Goal Financial have been included, leading many students to end up with inferior loans that are carrying sky-high interest rights.

While this company is, obviously, innocent until proven guilty, I urge you to avoid dealing with Goal Financial and the eStudentLoan.com website until this is all sorted out. You can read the complete New York Times article here.