Fairfield’s mission statement promotes its status as a university whose “primary objectives are to … foster in [students] ethical and religious values and a sense of social responsibility.”
But recent events have caused some to question whether the University itself abides by this mantra.
On Aug. 27, Fairfield voluntarily agreed to place $28,000 into scholarship funds in an effort to counter any financial gains the University saw as a result of its little-publicized agreement with The College Board Inc. College Board is a Web site designed for prospective college students that has a student loan program. Previously, College Board was listed on the University Web site as one of its preferred lenders.
Federal investigations into the student loan industry revealed relationships between universities and lending companies that were formed illegally, although in the best interests of both parties.
Admissions and financial-aid software discounts of $16,000 were granted to Fairfield from College Board, in addition to an all expenses paid trip to Amelia Island in Florida for one financial aid director at Fairfield to discuss student loan issues.
Fairfield failed to confirm the financial aid director who was the beneficiary of this trip, despite the fact that there is only one position that carries that title.
Rama Sudhakar, vice president of marketing and communications, said, “Fairfield sought discounts wherever possible to get the
best prices for the institution.”
“The University had followed the common practices of most higher education institutions when purchasing financial aid tools and services from third party vendors,” she said.
University President Fr. Jeffrey von Arx took a similar defensive stance in a story by FOX online news.
“Such trips were common practices at schools across the nation,” said von Arx in the article.
Dean of Students Tom Pellegrino also chose not to comment on the issue.
“The matter doesn’t concern him [von Arx],” stated Pellegrino.
In exchange for the discounted software, College Board was placed on Fairfield’s list of preferred lenders for students who require student loans in order to fulfill the financial commitment Fairfield requires for enrollment. In 2007, more than $29 million in student loans were taken out by 60 percent of the student body.
In addition to the $28,000 reimbursement to its scholarship fund, Fairfield “voluntarily collaborated” with New York Attorney General Andrew Cuomo, who is investigating the student loan industry as a whole, and signed a Financial Code of Conduct created by Connecticut Conference of Independent Colleges.
“The new statewide Financial Aid Code of Conduct that we have adopted and which we helped to negotiate with the Attorney General will give families confidence that their best interests are at the heart of all financial aid transactions,” said von Arx.
Student reactions were one sided in their displeasure with the administration’s connection to the preferred lending companies.
“I get the feeling that the administration is taking advantage of students,” said John Picyk’10.
Stefania Cambanis ’11 expressed disappointment with the loan situation as a whole but said, “It’s out of our control as students; there’s not much we can do.
Gene Palermo’08 was disappointed in the University for its poor judgment in the situation.
“They are always taking money whenever they can and putting it into places it doesn’t deserve to go,” he said. “They already take so much money from us, but we still deal with things like tiny dorms and forced triples.”
“The whole situation is absurd,” said Carpenter.
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