University Refunds $9.3M in Student Loans

Tim Goral's picture
Monday, April 23, 2012

UC doled out payments totaling $9.3 million to former students, banks and the federal government in an attempt to correct a student aid tracking error that occurred from 2002 to 2005.Between that time period, 2,389 UC students — responsible for 4,618 loans — might have received loans they were not entitled to. These include students who received financial aid to pay for classes they withdrew from or students who received aid for classes UC couldn’t verify they attended, said Greg Hand, UC spokesman. In response to the gaffe, UC has forgiven the loans and reimbursed students who were paying debt on loans they didn’t deserve.

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