UW System officials say they're taking steps to prevent unethical behavior in dealing with student financial aid
National reports earlier this year raised concerns about financial benefits student loan providers offered to university officials, in exchange for being considered preferred lenders. UW System President Kevin Reilly says there's no evidence of similar wrongdoing on their campuses.
Reilly testified before a legislative committee Tuesday about what the UW is doing to prevent any unethical behavior. That includes a new policy for identifying why a lender is preferred, so students and parents are aware why any recommendations are being made.
Several lawmakers on the committee questioned why the UW would allow the continued use of preferred lenders lists, in light of the ethical questions they can raise. Reilly says they're needed because nearly 65-percent of students rely on some type of financial aid and it would be a disservice to leave those students on their own.
Reilly says they will continue looking at polices that help prevent any conflicts of interest from developing.
AUDIO: Andrew Beckett reports (MP3 1:06)
