USC Statement on Financial Aid Investigation
From: Jerome A. Lucido, Vice Provost, Enrollment Policy and Management
You may be aware of the investigation by the Attorney General of the State of New York into student lending practices. On Wednesday afternoon, April 4, 2007, the university received a letter from New York Attorney General Cuomo informing us that our Director of Financial Aid, Catherine Thomas, is being investigated in connection with the ownership of stock in a student lending company.
We want to assure you that we take this matter very seriously and are moving aggressively to resolve this situation. We moved immediately to establish an internal review of the allegations, and we have put Ms. Thomas on paid administrative leave pending the completion of our review. Dean of Admission and Financial Aid Katharine Harrington is now personally overseeing the operations of the Financial Aid Office.
While we have not yet completed our review, the case appears to be isolated to a single individual who may have violated our policies. Additionally, we believe there have been no adverse financial consequences for our students and their families. Please know that it is our policy not to recommend any lender. We routinely publish a list of lenders that have historically provided good rates and good service as a resource for our students and families. We have removed Student Loan Xpress, the lender identified in the investigation by the New York State Attorney General, from our lender list pending a complete review of the facts.
The university remains committed to the highest standards of ethical behavior in all of our activities. The university’s Code of Ethics adopted by the USC Board of Trustees on March 28, 2004 says, in part,
"We promptly and openly identify and disclose conflicts of interest on the part of faculty, staff, students, trustees and the institution as a whole, and we take appropriate steps to either eliminate such conflicts or insure that they do not compromise the integrity of the individuals involved or that of the university."
We are taking all appropriate steps to make sure that this policy is fulfilled.
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Los Angeles ran an op-ed by Bill Deverell of the USC College about looking to the past in order to move on to the future. “You can do better, Los Angeles. You’ve heard it before: admonishment from the lecture hall pulpit or the pages of a book or magazine. History matters. You should pay closer attention,” Deverell wrote. “The history of Los Angeles reflects and illuminates American and world history all at once. With a little effort, something powerful happens: historical sensibility provides perspective on the here and now. Who wouldn’t want that?” The column is the first in a series for the magazine’s new CityThink section, L.A. Observed reported.
SoCal Minds featured the USC Good Neighbors Campaign, in which USC faculty and staff donate money for programs benefiting the neighborhoods surrounding the USC campus. The program was launched under the direction of USC President Steven B. Sample in reaction to the Los Angeles riots, the story noted. The campaign raised a record-breaking $1.2 million in donations this past year, despite tough economic times, the article stated. The story reported that several university units had 100 percent participation, including the USC Rossier School, KUSC-FM, the USC Fisher Museum of Art, the Office of the Treasurer, the Office of the Senior Vice President, Administration, the Health Sciences Libraries and USCard Services.
CNN cited research conducted by Adam Rose of the USC School of Policy, Planning, and Development for USC’s Homeland Security Center for Risk and Economic Analysis of Terrorism Events. Rose’s study found that the standard economic costs of the 9/11 attacks, estimated at $25 billion, were exceeded by the costs of behavioral reactions far from the site of the attack (for example, an additional $85 billion due to a decrease in demand for air travel).
Variety reported that the 22nd annual USC Libraries Scripter Award was given to “Up in the Air” novelist Walter Kirn and to USC alumnus Jason Reitman and Shelton Turner, who adapted Kirn’s book for the screen. In his acceptance speech, Reitman noted that his father, Ivan Reitman, used USC’s Doheny Memorial Library as a stand-in for the New York Public Library in “Ghostbusters.” The Wrap noted that Catherine Quinlan, dean of USC Libraries, emceed the ceremony.
National Public Radio’s “13.7” ran a commentary by K.C. Cole of the USC Annenberg School about the role of science in diplomacy. “We all know that the technology produced from scientific research can make international conflicts more deadly than ever. But can science help stop war?” Cole said. She mentioned that she recently took part in a USC Center on Public Diplomacy conference on science diplomacy and the prevention of conflict.
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