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ERIC Number: EJ769748
Record Type: Journal
Publication Date: 2007-May-25
Pages: 1
Abstractor: ERIC
Reference Count: N/A
ISSN: ISSN-0009-5982
2 More Universities Settle with Cuomo in Lender Controversy
Field, Kelly; Keller, Josh
Chronicle of Higher Education, v53 n38 pA33 May 2007
The ever-expanding investigation into conflicts of interest between colleges and lenders continued to claim victims last week as two more universities settled with New York State's attorney general, and another fired its financial-aid director. Drexel University, the only institution that had said it would fight allegations over its student-loan practices in court, instead agreed to a settlement in which it will pay $250,000 to students and adopt a code of conduct drawn up by Andrew M. Cuomo, New York State's attorney general. Another institution, Capella University, also agreed to Mr. Cuomo's code of conduct and released new details of compensation that its financial-aid director received from loan companies that the university recommended to its students. In addition, the financial-aid director at another institution, Lawrence W. Burt of the University of Texas at Austin, was fired last week after an internal investigation determined that his dealings with student-loan companies violated university rules. Six lenders and 24 colleges and universities have now reached agreements with the Cuomo in his investigation of entanglements between institutions and student-loan companies.
Chronicle of Higher Education. 1255 23rd Street NW Suite 700, Washington, DC 20037. Tel: 800-728-2803; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: New York