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Student Loans Scandal24:42
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photoIt seems like five minutes after the college acceptance letter that the first bill arrives. For many American families and students, handling the cost of college is a huge struggle, where every penny counts.

Which makes the scandal over student loans still growing in Washington and around the country particularly galling.

Giant lenders getting jacked-up interest rates from sweetheart college loan deals. College administrators and politicians getting what looks like kickbacks. And ordinary Americans left holding the bag.

This hour On Point: the spreading college loan scandal, and how it really worked..

Guests:

Jon Oberg, former Department of Education researcher and expert on college financing.

Paul Baskin, senior reporter, covering the student loan story for the Chronicle of Higher Education

Robert Shireman, President of the Institute of College Access and Success and executive director of the Project on Student Debt Raza Khan, co-founder and president of "My Rich Uncle," a student loan company

Sara MArtinez Tucker, Undersecretary of Education.

This program aired on May 14, 2007.

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