News and Events
Pepperdine Reviews Student Loan Practices
The New York State Attorney General's Office has initiated an inquiry into the practices of certain student loan companies. Pepperdine University shares the Attorney General's obvious concern for the best interests of students, and we are reviewing our practices relating to student loan companies and the inclusion of certain lenders among the various so-called "preferred lender lists" of Pepperdine's schools.
We have always provided information about an array of potential lenders that students may choose for their borrowing needs. Four of Pepperdine's five schools currently have arrangements with a lender that provided a minimum return to the University that is used to assist other students seeking financial aid. While this lender makes express disclosures in its truth-in-lending statements about this arrangement, we have decided to end the arrangement with the lender. It has become evident that the nominal benefit provided to our students may be outweighed by the perception that the arrangement creates.
The University will continue to review its practices and policies regarding student loans, and will continue our open dialogue with the New York Attorney General's Office with respect to this matter. The University has always put the best interests of students first in ensuring that their financial aid needs are met, and remains firmly committed to doing so.