NELNet is Biggest Corporate Donor to Republicans

November 8, 2006

The National Education Loan Network (NELNet), a major for-profit student-loan provider based in Nebraska, is the single largest corporate donor to the National Republican Congressional Committee this year. News of the contributions reported on a blog on Friday raised eyebrows as the company has recently been accused of overcharging the US federal government hundreds of millions of dollars for subsidy payments on student loans. If the Democrats win a majority in the house, they have promised to cut in half student loan interest rates -- and will likely slash lender subsidies to pay for it. Chronicle of Higher Education (requires subscription)