Cuomo Urges Caution with Student Loans BUFFALO (wned) - A new federal law is now in place, designed to protect college bound students from deceptive lending practices.

The "National Student Bill of Rights" law was modeled after similar legislation adopted last year by New York State.

Speaking to students at West Seneca East High School Monday, State Attorney General Andrew Cuomo said even though legislation is in place, the best protection against getting ripped-off on higher education is knowing the law, and knowing student rights.

"You have to know what you're talking about when you go to the financial aid office. You have to know what you're talking about when you talk to the banks. This is a lot of money we're talking about," Cimo said.

The Attorney General says many students leave college with loan around $100,000.

Cuomo's office offering more information on financing a college education on-line at:

www.oag.state.ny.us.

© Copyright 2009, wned