Loans probe looks at sports schemes

August 17, 2007

An investigation into corruption in US student loans has taken a fresh twist with college sports schemes now under suspicion.

Andrew Cuomo, the attorney general of New York, is investigating whether university sports programmes pointed students towards particular lenders in return for perks. He is also questioning whether sports departments use team logos and mascots to imply that a lender is the official lender for the university.

This is the latest development in the ever-widening investigation into whether university staff accepted money and other incentives from lenders in return for recommending the businesses' financial products to their students. It has seen several officials resign or be suspended, and many universities subpoenaed.

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