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A well-known American expert on loans turned out to be a non-existent person, invented by creditors

The opinion of Drew Cloud relied on authoritative media like The Boston Globe and NBC. One problem – it never existed.

CNBC photo
CNBC photo
Drew Cloud (Drew Cloud) – founder of the news site The Student Loan Report, which specializes in student loans. He always has a new statistics and survey data on hand, what college students are spending and what they are ready to invest in.

Because of this, the authoritative Western media often applied to him for expert evaluation: The Washington Post , The Boston Globe , CNBC and others. Cloud told them that students want to buy crypto currency, and some are ready to move to North Korea or to withstand the shock of Mike Tyson for free education. True, the blogger never existed – he was invented by a company that deals with student loans, to promote materials.

 Journalists of The Chronicle became interested in the story of Cloud, who called his site “an authoritative and independent source of news.” He has a photo and a biography described in the blog: at school he discovered a journalistic grasp and developed it in college. The staff of the publication tried to contact Cloud for several days, but he answered by e-mail that he was on a trip and could not respond promptly about his personality.
Section "Biography" on the website of Cloud
Section “Biography” on the website of Cloud

A week later, the head of the company LendEDU (engaged in refinancing student loans) Nate Matherson (Nate Matherson) answered the journalists. He admitted that Drew Cloud is a pseudonym for a group of authors writing materials about student loans. Matherson assured that he does not promote his firm in any way through the blog, but The Chronicle found several links to LendEDU on the site.

The editions that referred to Cloud as an expert have already added warnings to their materials. And the name of Drew Cloud, along with photographs and the entire biography, was missing from The Student Loan Report.

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