A front page article in the NYT 4-5-07 detailed how student financial aid administrators at Columbia (David Charlow), UCLA (Catherine Thomas) and University of Texas, Austin (Lawrence Burt) profited handsomely by granting Student Loan Express preferred status on their campuses. David Charlow of Columbia is under investigation by NY Attorney General Andrew Cuomo for receiving ill-gotten gains of $100,000 on stock trades in the student lan company. Here is a link to Jonathan D. Glater's NY Times article.

In a previous similar case involving five other universities, Citibank agreed to a settlement with Mr. Cuomo, NY Attorney General, providing for payments of $5.2 million to students and to a fund to educate students and parents about student loans. The five institutions all say they did nothing wrong.

http://www.nytimes.com/2007/04/05/education/05loans.html?hp