Over at the Huffington Post they asked me to put something up about the student loan scandals.
There's an attack on MyRichUncle in the comments:
"I find it very interesting, and somewhat suspect, that all of these "investigations" have started happening only after one lender that was shut out by most schools started what amounts to a slander campaign. That lender's name is My Rich Uncle--the reason for the shut out was two-fold: 1st, their products just are not that good. 2nd, Who in their right mind would list a company with the name My Rich Uncle on their lender list--the very name screams entitlement and is a turn off to most people."
Actually, this is a good point. Except it wasn't a slander campaign--it was a truth campaign. MyRichUncle believes that it can offer cheaper loans by marketing directly to students ( a debatable longrun business proposition, but their loans right now are indeed cheaper), and so they refused to play the sleazy preferred-lender game, choosing instead to draw attention to it (with a full-page ad in the New York Times, among other publicity plays). It may very well have been that publicity that drew Andrew Cuomo to his current investigation, and MyRichUncle, silly name and all, deserves some credit.