A scandal involving the student loan industry is shaking up financial aid offices in colleges and universities throughout the country and might claim a federal Education Department (ED) official, too. The scandal serves as a harsh reminder to school administrators and technology directors everywhere of the dangers posed by potential conflicts of interest in dealings with education vendors.

New York Attorney General Andrew Cuomo started looking into the lucrative, $85 billion college loan industry shortly after his election in November. Cuomo's investigators say they have found numerous arrangements that benefited schools and lenders at the expense of students. In some cases,


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