Every day at colleges across the country, financial aid administrators help students navigate the complicated maze of grants and loans they need to finance their educations.

So many took exception when New York Attorney General Andrew Cuomo started a probe of the field's practices...

Cuomo's office, with separate research from the Washington-based New America Foundation, have uncovered troubling ties between student loan companies and college financial aid officers, who are supposed to give students unbiased advice on borrowing.

The controversy involves preferred-lender lists maintained by many colleges. Students may borrow anywhere, but they often seek advice from college financial aid officers. Schools often list a preferred lender or lenders and typically direct students to them. For lenders, securing spots on such lists is crucial for business...

And at the University of Notre Dame, Executive Vice President John Affleck-Graves collected $58,984 last year in eight months as a director of Student Loan Corp., a lender to ND's students and parents. That firm is tied to Citibank, which Notre Dame "strongly" recommends to students...

"This is an ethical earthquake," said Ian Mitroff, 69, business professor emeritus at the University of Southern California..

For the complete article, please visit The Indianapolis Star website.