| A Shaky Season for Student Loans
Shortly after New Year's Day, Pat Watkins, financial aid director at Eckerd College in St. Petersburg, Fla., placed a worried call to National Education, a student loan company she has been working with for nearly two decades. She had heard rumors that the company was no longer funding federal Stafford and PLUS (Parent Loans for Undergraduate Students) education loans, but had received no official word from the company. She found out that the phone of National Education's local rep had been disconnected. Later she learned that Chicago-based National Education was not planning to accept applications for new loans for the spring semester after Jan. 15, though they planned to fund disbursements for students who received loans for the fall. Federal Loans Lose Funders That was the first surprise.
Parents often fumble on financial aid forms
High school seniors have been scrambling for months to complete their applications for college. Now it's their parents' turn to sweat.
The start of the year marks the launch of financial aid season, when parents fill out exhaustively detailed forms in an effort to get their share of the billions of dollars of assistance available. Unfortunately, aid forms can be every bit as unnerving as college applications. Missteps can cost thousands.
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Penn Treaty more likely to enter joint venture or sell assets than to ...
In December 2007, it received an extension from the NYSE until 16 February to file its annual report. The company has said that it expects to make a decision regarding any financial restatements by later this month, according to regulatory filings. Also according to regulatory documents, Penn Treaty's right to sell policies in Florida was suspended for at least one year for failure to file its 2006 financial results by 1 June. Penn Treaty said at the time that the suspension would not be material to its financial performance, as its right to sell policies represented 6% of its new business applications for the first five months of 2007. Florida sales, however, accounted for approximately 15% of the company's direct premium revenue last year, according to company figures.
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