Campus Talk: Consumer watchdog agency takes action against alleged student loan scam

Editor’s note: Each Tuesday, Talk Business & Politics provides “Campus Talk,” a recap and deep-dive into education topics.

CONSUMER WATCHDOG AGENCY TAKES ACTION AGAINST ALLEGED STUDENT LOAN SCAM: The Consumer Financial Protection Bureau (CFPB) recently announced it is taking action to halt a nationwide student financial aid scam that allegedly stole tens of thousands of students and families across the country by illegally charging millions of dollars in fees for sham financial services.

The Bureau filed a complaint in federal court against the company, which operates under the names of Student Financial Resource Center and College Financial Advisory, and the individual who owns and operates the scheme. The CFPB is seeking to halt illegal practices and obtain relief for harmed consumers.

The CFPB alleges in its complaint that the defendants are exploiting consumer uncertainty regarding how to use free federal financial aid resources. The Department of Education does not charge any fees to apply for these programs, for which many student loan borrowers qualify. For more information on the complaint, click here.

FEDERAL HIGHWAY OFFICIALS LOOKING TO LAUNCH NATIONWIDE SAFETY CAMPAIGN FOR SEAT BELTS ON SCHOOL BUSES: The National Highway Traffic Safety Administration is launching a series of research projects to improve school bus safety data, and particularly data on the safety benefits of seat belts. The plan includes assessment of the safety benefits in jurisdictions that currently require seat belts and gathering data on whether seat belt requirements reduce the safety risks from driver distraction.

NHTSA said it’s in contact with safety advocates and looking at the agency’s available resources to determine how NHTSA, in coordination with other entities, might help overcome the financial barriers to making seat belts universally available to students. The federal agency also said it will send letters to governors of each of the six states that require seat belts on school buses, asking them to nominate one participant from state government and one from a local school district to provide recommendations to NHTSA as to how to best start a nationwide movement. Arkansas is not one of the states that requires seat belts in school buses.

UA PHYSICISTS TO USE FEDERAL GRANT TO STUDY MATERIALS CONSIDERED KEY TO ENERGY: Researchers at the University of Arkansas will use a $374,621 federal grant to investigate fundamental properties of materials that are considered key to advances in energy generation, storage and conversion. The Defense Advanced Research Projects Agency, which commissions advanced research for the U.S. Department of Defense, awarded the grant to an international research team led by Laurent Bellaiche, Distinguished Professor of physics at the University of Arkansas.

The researchers will focus on developing, implementing and using predictive computational methods to advance the understanding of ferroelectric and multiferroic perovskite oxides, which are materials that convert one form of energy into another.

ENERGY DEPARTMENT SEEKS GRADUATE STUDENTS FOR PILOT RESEARCH PROGRAM ON ENERGY GRID: The Department of Energy’s Building Technologies Office is seeking graduate students interested in exploring energy systems of buildings and how building assets or functions can integrate and transact with the energy grid supplying the building’s energy.

The Building-Grid Integration Research and Development Innovators Pilot Program provides a unique opportunity for graduate students currently pursuing a master’s degree or doctoral degree in a science or engineering discipline to explore building-grid integration research and development technology concepts. A total of five awards of up to $50,000 per year are scheduled to be awarded for the first year.

Completed applications and supporting materials must be submitted via the DOE’s online application system by midnight Sunday (Nov. 15).