Knoxville Business College v. Boyer

MEMORANDUM

ROBERT L. TAYLOR, District Judge.

This action involves the administration of the Federal Insured Student Loan Program [“FISLP”] under Title IV, Part B, of the Higher Education Act of 1965, as amended, 20 U.S.C. § 1071 et seq. Plaintiff, Knoxville Business College [“the College”], is a privately owned vocational junior college of business located in Knoxville, Tennessee. On April 15, 1970, the College entered into a “Contract of Insurance” with the U. S. Commissioner of Education [“the Commissioner”] which provided that the Commissioner would insure (guarantee) all loans made to…