The University of Wisconsin-Milwaukee's financial aid director confirms she sits on the advisory board of a student loan company that the school recommends as a "preferred lender" to student borrowers.
The director, Jane Hojan-Clark, also tells the Milwaukee Journal Sentinel that the firm, Student Loan Xpress, has paid for her to attend conferences in Ohio and New York City, covering the cost of air fare, hotel and meals.
Hojan-Clark says the company was selected to be U-W-M's only preferred lender in 2005. That's when the university switched from a system in which federal loans were managed directly by the government to a program in which the loans are managed by private lenders.
She says Student Loan Xpress scored higher than any other company in a review to become the preferred lender.
Hojan-Clark says Student Loan Xpress asked her to sit on the advisory board after it had been selected as U-W-M's preferred lender. She says she agreed because she wanted to share the needs of U-W-M's students with the company.
Hojan-Clark says her service on the board poses no conflict of interest, and U-W-M Provost Rita Cheng agrees. Cheng says Hojan-Clark has no personal gain and the company got no special favor or benefit.
Source
http://abclocal.go.com/wls/story?section=state&id=5190537
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