UT System to Review Financial Aid Practices and Policies with Regard to Student Loan Companies

AUSTIN – The University of Texas at Austin President William C. Powers, Jr., requested today (Apr. 5) that the University of Texas System Office of General Counsel conduct a comprehensive review into the allegations of impropriety by Lawrence W. Burt, associate vice president and director of student financial aid at UT Austin. The review, which will be led by UT System Vice Chancellor and General Counsel Barry D. Burgdorf, will begin immediately and will look into allegations raised by the New York State Attorney General’s office, which is conducting an investigation into relationships between student loan companies and universities.

 

In addition, UT System Chancellor Mark G. Yudof, in consultation with Regents’ Chairman James R. Huffines, instructed the Office of General Counsel to conduct a system-wide review of policies and procedures pertaining to lending practices at the UT System’s nine academic and six health institutions.