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The Student-Loan Scam

After 15 years of reporting on the student-loan industry, I didn't think much could surprise me. But even I was shocked last week when I discovered Securities and Exchange Commission documents revealing that financial aid directors at three prominent universities - as well as a senior official at the U.S. Education Department - each had significant personal investments in a private student-loan companyWhat possibly could have motivated these officials to take tens of thousands of dollars in stock options from Student Loan Xpress?