The Daily Skunk

From Studentloanjustice.org

This from our friends at the New America Foundation…

NEWS SCOOP: Stock Options Provided to Financial Aid Officers by Student Loan Provider

Higher Ed Watch Investigation Prompts Columbia University to Put Aid Administrator on Leave; Prompts New Round of NYS AG Subpoenas as Well

Stephen Burd | April 4, 2007

As per an investigation by the New America Foundation, Higher Ed Watch has learned of several financial aid administrators who had significant personal investments in a publicly traded, for-profit student loan company.

According to a September 2003 SEC filing by Education Lending Group (see chart on page 18), the original owner of the lender Student Loan Xpress, financial aid directors at Columbia University, the University of Southern California, and the University of Texas at Austin, were preparing to sell 10,500 shares of stock in the company, which were worth more than $100,000 at the time.

read more on this here: http://www.newamerica.net/blogs/2007/04/stock

William