Saturday, September 22, 2007

Settlement reached over release of student loan documents

Associated Press - August 28, 2007 2:14 PM ET

DES MOINES, Iowa (AP) - A settlement has been reached in a lawsuit to stop The Des Moines Register from obtaining documents from a student loan lender.

Iowa Student Loan Liquidity filed the lawsuit in May. It wanted to keep the documents from being made public, saying it feared they could expose certain "personnel issues and competitive business strategies."

The West Des Moines-based nonprofit corporation has now agreed to release the documents.

The Register requested the records as part of its examination of the organization.

Iowa Student Loan was created by the state three decades ago and is now 1 of the largest student loan lenders in Iowa.

Last winter, the nonpartisan Iowa Legislative Services Agency called for lawmakers to question whether the organization's mission was being achieved. A state audit is now being done. It should be concluded in a few weeks.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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