Office of Congresswoman Shea-Porter - Shea-Porter Statement on UBS Allegations

“The allegations that UBS has defrauded New Hampshire students and families are deeply disturbing.  As the mother of two, I know the difficulties families face in paying for college.  NHHELCO’s services affect nearly 85% of New Hampshire student loans.  If these allegations are true, UBS’s action could have potentially cost NHHELCO millions of dollars and resulted in NHHELCO being less able to meet the loan demands of New Hampshire students.

Congress must immediately investigate this matter.  I have asked Chairman George Miller of the House Education and Labor Committee and Chairman Barney Frank of the House Committee on Financial Services to jointly investigate these allegations and the impact this potential fraud could have on New Hampshire students."