By Brad Atzinger
While an inquiry into student loan corruption ensues across the country, the Financial Aid Office at the University of Louisville ensures that it works to offer its students the best possible deal with lenders.
This month, New York Attorney General Andrew Cuomo headed an investigation into corrupt arrangements between colleges and loan companies-all at the expense of students. “This is like peeling an onion,” Cuomo said to the Associated Press. “It seems to be getting worse the more we uncover. It’s more widespread than we originally thought.”
“We have never been offered anything from our lenders, and we certainly would not accept anything,” U of L Director of Financial Aid Patricia Arauz said, referring to alleged kickbacks received in the cases of the University of Pennsylvania, New York University and Syracuse University.
According to Arauz, U of L has a preferred lenders list consisting of the Student Loan People, USBank, Chase and other companies with a “local presence in Louisville.”
“We do not receive any benefits from lenders in exchange for steering loans,” Arauz said. “We are looking out for the best interests of students.”
Junior education student Brittany Miller said she had faith in U of L’s Financial Aid Office. “I think they make sure money gets to the right people, for the right reasons.”
Arauz said the university reviews its preferred lender list each year, which is meant to benefit students who may not have the time or resources to view each loan company.
“It’s a benefit to students, and we want to make sure they get the best possible deal,” she said.
Across the country, affected colleges have forced top financial aid officials to step down in the wake of the ongoing scandal.
“These stories create a sense of distrust,” Arauz said, “and students should know that here at U of L, we are working extremely hard to ensure students the best possible benefits.”
Freshman business major Michael DiFrank expressed concern with the university’s attitude towards lenders and students. “I’m not sure that the university really cares about students getting the best deal, as long as their tuition gets paid.
Incoming freshman Matt Jenkins wasn’t surprised by the corruption at other universities. “People get kickbacks everywhere,” he said, “even with financial aid offices.”
“Students should know the Financial Aid office is here to help fund their education,” Arauz said.
