The other shoe in Columbia’s financial aid boondoggle dropped in Bwog’s inbox this morning: a few weeks after jettisoning former Dean David Charlow, the University has recieved its comeuppance from New York State, which threw the book at us harder than any other school. “We believe Columbia’s employee was acting illegally,” said Attorney General Andrew “Enforcer” Cuomo. “A corporation must police its employees.” As such, Columbia will pay up a cool $1.1 million, and sign the College Loan Code of Conduct–but only because they wanted to, not because they had to. Or at least that’s how Low Library is framing it.
“Columbia University does not admit, and expressly denies, that it has violated any law in connection with its student loan practices,” read the statement from Public Affairs director Robert Hornsby. “Columbia is not paying a fine or making any restitution as part of the settlement, but will contribute $1,125,000 to the Attorney General’s national fund for educating and assisting students and their parents about the financial aid process.”
One tipster opines: “You know that somehow the increased oversight is going to result in more paperwork for students. Thats what happens everytime Columbia gets busted for poor oversight- they pass the new ‘rules’ on.”