The arrangement is strictly a marketing agreement, a YSU spokesman said.
By HAROLD GWIN
VINDICATOR EDUCATION WRITER
YOUNGSTOWN — Youngstown State University said it sold advertising space on its athletic Web site to a student loan consolidation company being investigated by the New York attorney general.
YSU officials said the athletic department signed a one-year contract with Student Financial Services Inc., which does business as University Financial Services, in December 2006.
The agreement allows UFS to have an advertisement on the athletic department's Web site and also gives the company authorization to mail materials regarding student loan consolidation to recent YSU graduates, said Thomas Maraffa, special assistant to President David C. Sweet.
It's strictly a marketing arrangement, selling advertising space, said Dr. George McCloud, special assistant to the president for university advancement.
Maraffa said the athletic Web site also has four other companies advertising on it.
Andrew Cuomo, New York's attorney general, is investigating whether any schools referred students to UFS in exchange for some benefit, cash or otherwise, which could be a violation of both New York and federal law.
YSU is one of four Ohio state universities and 36 other schools, including 38 Division 1 schools, around the country asked for documents related to UFS arrangements.
Wright State University, Ohio University and Bowling Green State University are the other three from Ohio.
The ad
The UFS ad on the YSU athletic Web site is a small box featuring a penguin (the YSU mascot) and lettering saying, "Save money each month by lowering your student loan payments!" It provides a telephone number and a Web site link that leads to UFS. The ad doesn't mention the company by name.
McCloud said the Horizon League, in which YSU plays, approached the university with the UFS marketing opportunity.
Sweet said he only became aware of the probe involving athletic departments Wednesday, but, so far, has seen no cause for concern. He said he's asked his staff to look into issues regarding YSU's participation with UFS.
McCloud said the university will gladly supply the information requested by the New York attorney general.
Cuomo said the probe is a new chapter in his ongoing investigation into the student loan industry.
gwin@vindy.com
Friday, August 3, 2007
The arrangement is strictly a marketing agreement, a YSU spokesman said.
By HAROLD GWIN
VINDICATOR EDUCATION WRITER
YOUNGSTOWN — Youngstown State University said it sold advertising space on its athletic Web site to a student loan consolidation company being investigated by the New York attorney general.
YSU officials said the athletic department signed a one-year contract with Student Financial Services Inc., which does business as University Financial Services, in December 2006.
The agreement allows UFS to have an advertisement on the athletic department's Web site and also gives the company authorization to mail materials regarding student loan consolidation to recent YSU graduates, said Thomas Maraffa, special assistant to President David C. Sweet.
It's strictly a marketing arrangement, selling advertising space, said Dr. George McCloud, special assistant to the president for university advancement.
Maraffa said the athletic Web site also has four other companies advertising on it.
Andrew Cuomo, New York's attorney general, is investigating whether any schools referred students to UFS in exchange for some benefit, cash or otherwise, which could be a violation of both New York and federal law.
YSU is one of four Ohio state universities and 36 other schools, including 38 Division 1 schools, around the country asked for documents related to UFS arrangements.
Wright State University, Ohio University and Bowling Green State University are the other three from Ohio.
The ad
The UFS ad on the YSU athletic Web site is a small box featuring a penguin (the YSU mascot) and lettering saying, "Save money each month by lowering your student loan payments!" It provides a telephone number and a Web site link that leads to UFS. The ad doesn't mention the company by name.
McCloud said the Horizon League, in which YSU plays, approached the university with the UFS marketing opportunity.
Sweet said he only became aware of the probe involving athletic departments Wednesday, but, so far, has seen no cause for concern. He said he's asked his staff to look into issues regarding YSU's participation with UFS.
McCloud said the university will gladly supply the information requested by the New York attorney general.
Cuomo said the probe is a new chapter in his ongoing investigation into the student loan industry.
gwin@vindy.com
Friday, August 3, 2007
Youngstown State University said it sold advertising space on its athletic Web site to a student loan consolidation...
