NEW YORK – Columbia University has fired its director of financial aid because he promoted a student loan company.
David Charlow was dismissed after it was discovered he was encouraging students, their parents and alumni to use Student Loan Express despite the fact he had a financial interest in the firm. Columbia officials stated Charlow was fired for violating the school’s conflict of interest policy.
According to Reuters, he had sold shares of Student Loan Express’ parent company for a profit of more than $100,000.
The dismissal comes amid an investigation by New York Attorney General Andrew Cuomo of the student loan industry.
Other schools have also fired their aid officials for wrong doing related to Cuomo’s investigation. Johns Hopkins’ financial aid director Ellen Frishberg resigned May 21, and last week the University of Texas at Austin’s student aid director Lawrence Burt was dismissed from his job.
Additional coverage of Cuomo’s investigation can be found here.
