AUSTIN – The University of Texas System today released its final report into allegations of conflicts of interest involving Lawrence W. Burt, associate vice president and director of student financial aid at The University of Texas at Austin.
The review, initiated last month and led by UT System Vice Chancellor and General Counsel Barry D. Burgdorf following allegations of conflicts of interest of Burt with a student lending company raised by the New York State Attorney General’s office, was delivered to the UT System Board of Regents and UT Austin President William C. Powers, Jr., today (May 14). Burgdorf's final report was completed with the cooperation of UT Austin officials and with assistance from special outside counsel Kenneth M. Breen of Paul, Hastings, Janofsky & Walker LLP.
The full report (PDF) is available online.
“This report represents a thorough inquiry into student lending practices at UT Austin and the relationships between the financial aid office and the private companies that provide loans to university students, “ Regents’ Chairman James R. Huffines said. “As a result, I believe UT Austin will be able to adopt the best practices possible and reassure students and their families about the soundness and integrity of the financial aid process. The Board looks forward to the completion of the System-wide review, which will offer guidance to all UT System financial aid offices and help us ensure that they are all meeting the highest professional standards.”
The UT System Office of General Counsel is continuing a comprehensive review of System-wide policies and procedures pertaining to student lending practices at the nine academic and six health institutions. A final report and recommendations will be presented to the Board of Regents and Chancellor Mark G. Yudof within four to six weeks. The UT System will continue to cooperate with governmental entities currently investigating this matter.
