More on the Financial Aid Racket

I've posted previously about the financial aid racket and financial aid administrators who sign off on loans that students have no business taking out. Now comes the news, according to the New York Times, that "[t]he directors of financial aid at Columbia University, the University of Texas at Austin and the University of Southern California held shares in a student loan company that each of the universities recommends to student borrowers, and in at least two cases profited handsomely." I bet that's the tip of the iceberg.