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Ivy League Schools Suing Students Over Loans
Friday, February 8, 2013    
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Yale, Penn among those seeing rise in defaults

(NEWSER) – Another sign that the student debt problem is off the rails: Borrowers defaulted on nearly $1 billion in federal loans designated for low-income students in 2011, a jump of 20% from five years earlier, reports Bloomberg. Because these particular loans, called Perkins loans, are administered by the schools themselves, it means that former students are now facing lawsuits from their alma maters. Ivy Leaguers Yale and Penn, along with George Washington, are the three schools singled out in the story for filing such suits.

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