Daily News | Thomas Jefferson will pay $2.7M to feds over alleged misuse of student loan money
Thomas Jefferson University agreed to pay $2.7 million to settle allegations that it violated terms of a federal student loan program from 2009 to 2016 bythe investment proceeds instead of using them for more loans, federal officials said Tuesday.medical student loan programprovided loans on favorable terms to students who agreed to work as primary care doctors for 10 years after completing their medical degrees.
Medical schools that participate in the Primary Care Loan program are supposed to create a revolving loan fund and applySchools are supposed to return money not used for loans every year, according to the U.S. Attorney. Jefferson, which includesJefferson’s $2.7 million payment returns to the federal government
investment gains that Jefferson kept for its own purposes outside the loan program, the U.S. Attorney’s office said. The U.S. Department of Health and Human Services administers the program. “When schools agree to participate in the Primary Care Loan program, they must carefully account for these federal funds to ensure that taxpayer dollars are used for public good,” said Maureen R. Dixon, special agent in charge for the HHS Office of Inspector General. “When a school wrongfully keeps these funds from the program, it prevents other recipients from using them to meet the primary care needs of the community.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From the Archives: Greta Gerwig on the Cover of Paste in 2009In 2009, for our fourth annual Art-House Film issue of Paste magazine, we chose 25-year-old Greta Gerwig alongside filmmaker Joe Swanberg for the cover, calling them 'the penny-pinching future of indie cinema.'
Read more »
Belgian court finds eight guilty of murder over 2016 Brussels bombingsA Brussels court convicted eight men of murder and attempted murder on Tuesday for their part in the 2016 Islamist bombings in Brussels that killed 32 people and injured more than 300.
Read more »
New York’s Michelin-Starred Sushi Ginza Onodera Is ClosingThe acclaimed omakase restaurant first opened in 2016.
Read more »