Student Financial Aid or Government Official Aid

It is reported that a number of officials may have received kickbacks for steering students to certain lenders. The head of University of Texas' aid office, Lawrence Burt has been asked to resign from an advisory panel he holds. The US Education Department is investigating allegations that Lawrence Burt and a UT student aid official, Matteo Fontana both owned shares of Education Lending Group Inc. Officers at Columbia University and the University of Southern California may have also owned shares of Education Lending and are being investigated as well.