University Financial Aid Officials Suspended In Student Loan Probe
LOS ANGELES, CA – APRIL 06: The University of Southern California (USC) campus is seen on March 6, 2007 in Los Angeles, California. A growing investigation by New York State Attorney General Andrew M. Cuomo into the relationships between student loan companies and universities reports that financial aid directors at USC, Columbia University, and the University of Texas at Austin allegedly held shares in a student loan company recommended by each university, yielding significant profits for the directors. One of the directors made more than $100,000, according to Cuomo’s office. (Photo by David McNew/Getty Images)
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Despite rising housing costs, neighborhoods within walking distance to USC’s main campus remain coveted, especially for undergrads. In recent years the university has heavily invested in the continued expansion of student housing. USC Village—the largest development in the school’s history— was a $700 million endeavor completed in 2017, despite outcry from local South Central residents who feared it would only further exacerbate gentrification.
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