NC public university to repay lenders
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Assocaited Press
Published: November 17, 2008
WINSTON-SALEM, N.C. (AP) - A public university in Winston-Salem says it will repay the government and lenders more than $1 million for loans and grants given to ineligible students.
The Winston-Salem Journal reported Monday that Winston-Salem State University said it would repay $1.15 million over the next three years.
A report from a review team issued in September said the university owes $710,855 to the U.S. Department of Education and $437,901 to lenders of subsidized loans. The review was prompted in 2006 by a tip to the Department of Education.
At issue were students who got aid and then dropped out but didn’t tell the university.
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