Langston named in student loan inquiry

OKLAHOMA CITY
Langston University
officials say they do not have details of an investigation by New York Attorney
General Andrew Cuomo’s office that found that a Langston financial aid officer
accepted perks from a student loan company before advocating the lender on a
preferred list for students.

Langston is among at least 565 institutions that got perks
from the College Loan Corp., which agreed to settle the case with Cuomo by
paying $500,000 to the National Education Fund that Cuomo established to inform
families about financial aid.

The Langston officer, whose name and employment status was
not released, served on a company advisory board and accepted travel,
entertainment and meals from the San Diego-based company, said Jeffrey Lerner,
director of communications for Cuomo.

“This was a widespread systematic practice in the
college loan industry,” Lerner said. “CLC
has agreed to end these cozy relationships they had with schools and financial
aid officers.”

Langston issued a statement that said any involvement with
the company happened prior to the current administration.

“We commend the New York Attorney General for his
efforts to reform the student loan process and ensure the best interest of
students and parents are served,” the statement said.

Cuomo and others are pushing for national legislation, the
Student Loan Sunshine Act, which would set high ethical standards for student
loan companies.

Cuomo has reached agreements with 10 other student loan
companies.

He also has requested documents from 90 alumni
associations, including one at the University of Central Oklahoma, to find out
if they got improper payments for funneling students to a student loan
consolidation company, Nelnet.

Information from: The Oklahoman, http://www.newsok.com

– Associated Press



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