David Charlow - Revision history

Admin at 21:18, 24 May 2013

2013-05-24T21:18:08Z

Reaganaut at 22:10, 4 May 2013

2013-05-04T22:10:22Z

Cam2171 at 16:10, 25 June 2012

2012-06-25T16:10:05Z

Cam2171 at 16:04, 25 June 2012

2012-06-25T16:04:46Z

Stoesser at 01:46, 21 June 2012

2012-06-21T01:46:39Z

Stoesser at 01:43, 21 June 2012

2012-06-21T01:43:51Z

Stoesser: /* References */

2012-06-21T01:07:55Z

‎References

Stoesser at 01:06, 21 June 2012

2012-06-21T01:06:02Z

207.38.212.125 at 11:58, 2 January 2011

2011-01-02T11:58:20Z

Pacman at 19:35, 11 April 2008

2008-04-11T19:35:46Z

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 In 1988, Charlow accepted a second CU assignment as an admissions officer for the [[SEAS|School of Engineering and Applied Science]] where he worked for two years while concurrently coaching crew.
-In 1990, he moved over to the [[Columbia College]] financial aid office where he was a financial aid officer for two years.  During this same two-year period Charlow was admitted to the [[Graduate School of Business]] from which he earned an [[MBA]] in 1992.
+In 1990, he moved over to the [[Columbia College]] financial aid office where he was a financial aid officer for two years.  During this same two-year period Charlow was admitted to the [[Graduate School of Business]] from which he earned an [[Master of Business Administration|MBA]] in 1992.
 After a year in the private sector, Charlow once again returned to alma mater as Associate Director of [[Student Financial Services]] where he was a key member of the management team that restructured the Bursar’s office, significantly improving student service.  While in this role, he also managed the financial aid services operation that supported the [[School of the Arts]], the [[GSAPP|School of Architecture]], the [[School of Journalism]], the graduate portion of SEAS, and the [[School of General Studies]].

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 [[Image:Charlow.jpg|frame|David Charlow]]
-'''David Charlow''' '85[[CC]], '92[[Business|BUS]] spent more than twenty five years as a student, coach, and student affairs professional at Columbia. Throughout his career Charlow worked in [[Admissions]], [[Athletics]], [[Financial Aid]], and [[Student Affairs]].
+'''David Charlow''' '85[[Columbia College|CC]], '92[[Columbia Business School|BUS]] spent more than twenty five years as a student, coach, and student affairs professional at Columbia. Throughout his career Charlow worked in [[Admissions]], [[Athletics]], [[Financial Aid]], and [[Student Affairs]].
 He arrived in Morningside Heights as a Columbia College freshman in the fall of 1981. He graduated in 1985 with a [[B.A.]] in [[economics]].

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 == 2007 Student Loan Scandal ==
-In [[2007]] Charlow was investigated by the New York State Attorney General for conflict of interest when it was reported that he owned stock from 2002-05 in one of the four educational loan companies that his office recommended on a preferred lender list. He had purchased stock at face value in ELG, a small student loan start up company that did not at the time market any loans through university financial aid offices.  Shortly thereafter however, ELG absorbed the student loan division from American Express, a longtime preferred lender at Columbia, and created a new entity named Student Loan Xpress.
+In [[2007]] Charlow was investigated by the New York State Attorney General for conflict of interest when it was reported that he owned stock from 2002-05 in one of the four educational loan companies that his office recommended on a preferred lender list <ref>http://www.nytimes.com/2007/05/22/nyregion/22columbia.html</ref>. He had purchased stock at face value in ELG, a small student loan start up company that did not at the time market any loans through university financial aid offices.  Shortly thereafter however, ELG absorbed the student loan division from American Express, a longtime preferred lender at Columbia, and created a new entity named Student Loan Xpress.
 When Student Loan Xpress offered Columbia borrowers a very significant 2% interest rate reduction on Parent PLUS loans, they were placed on the preferred lender list for PLUS loans only.  The following year, when they offered competitive terms for student loans, they were placed on the preferred list for Stafford loans.  Before placing Student Loan Xpress on the preferred lender list Charlow disclosed upfront that he owned ELG stock to both his supervisor and to another senior university official involved in overseeing the preferred lender process.  The published preferred lender lists for the years 2002-2007 clearly show that the lender (Student Loan Xpress) consistently offered Columbia borrowers highly competitive terms and in most years provided the best borrower benefits.   Although the University stated repeatedly that no borrowers were negatively affected, Charlow was let go in the summer of 2007. Eventually, an exhaustive New York State investigation of Charlow was quietly ended with no charges being filed and no penalties assessed.

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 [[Image:Charlow.jpg|frame|David Charlow]]
-David Charlow CC’85, BU ’92 spent more than twenty five years as a student, coach and Student Affairs professional at Columbia University. Throughout his career Charlow worked in Admissions, Athletics, Financial Aid, and Student Affairs.
+'''David Charlow''' '85[[CC]], '92[[Business|BUS]] spent more than twenty five years as a student, coach, and student affairs professional at Columbia. Throughout his career Charlow worked in [[Admissions]], [[Athletics]], [[Financial Aid]], and [[Student Affairs]].
-He arrived in Morningside Heights as a Columbia College freshman in the fall of 1981. He graduated in 1985 with a B.A in economics.
+He arrived in Morningside Heights as a Columbia College freshman in the fall of 1981. He graduated in 1985 with a [[B.A.]] in [[economics]].
-A rowing recruit from Simsbury high school, he rowed lightweight crew in college for all four years and earning a Varsity letter.  He was named co-captain in his senior year.
+A rowing recruit from Simsbury high school, he rowed [[Crew|lightweight crew]] in college for all four years and earning a Varsity letter.  He was named co-captain in his senior year.
 In 1987 Charlow returned to Columbia as the freshman lightweight crew coach, a position he retained for three years.  In his first season he led the Frosh Lights to an impressive 5-3 record, including the first Columbia rowing victory over Yale in fifteen years.
-In 1988, Charlow accepted a second CU assignment as an admissions officer for the School of Engineering and Applied Science where he worked for two years while concurrently coaching crew.
+In 1988, Charlow accepted a second CU assignment as an admissions officer for the [[SEAS|School of Engineering and Applied Science]] where he worked for two years while concurrently coaching crew.
-In 1990, he moved over to the Columbia College financial aid office where he was a financial aid office for two years.  During this same two-year period Charlow was admitted to the Graduate School of Business from which he earned an MBA in 1992.
+In 1990, he moved over to the [[Columbia College]] financial aid office where he was a financial aid officer for two years.  During this same two-year period Charlow was admitted to the [[Graduate School of Business]] from which he earned an [[MBA]] in 1992.
-After a year in the private sector, Charlow once again returned to alma mater as Associate Director of Student Financial Services where he was a key member of the management team that restructured the Bursar’s office, significantly improving student service.  While in this role, he also managed the financial aid services operation that supported the School of the Arts, The School of Architecture, the School of Journalism, the Graduate School of Engineering, and the School of General Studies.
+After a year in the private sector, Charlow once again returned to alma mater as Associate Director of [[Student Financial Services]] where he was a key member of the management team that restructured the Bursar’s office, significantly improving student service.  While in this role, he also managed the financial aid services operation that supported the [[School of the Arts]], the [[GSAPP|School of Architecture]], the [[School of Journalism]], the graduate portion of SEAS, and the [[School of General Studies]].
-In 1994, Charlow was asked by the Provost to take on a special assignment as interim Director in the office of Undergraduate Financial Aid.  This office, which served Columbia College and the Undergraduate School of Engineering and Applied Sciences, was running a multi-million dollar deficit and in a total state of disarray.
+In 1994, Charlow was asked by the [[Provost]] to take on a special assignment as interim Director in the office of Undergraduate Financial Aid.  This office, which served Columbia College and the undergraduate portion of SEAS, was running a multi-million dollar deficit and in a total state of disarray.  After restructuring the office and eliminating the deficit, Charlow was named the permanent Director in 1995.
-Charlow was Executive Director of Financial Aid for twelve years and served concurrently as Associate Dean of Student Affairs for seven years.  He served on many important committees and was a key member of the team that created and implemented the strategic plan for Admissions, which launched Columbia’s impressive rise applications.
+Charlow was Executive Director of Financial Aid for twelve years and served concurrently as Associate Dean of Student Affairs for seven years.  He served on many important committees and was a key member of the team that created and implemented the strategic plan for Admissions, which launched Columbia’s impressive rise in applications.
-As the Senior Associate Dean in Division of Student Affairs he provided senior level management in many areas including the offices of Admissions and Financial Aid, the Academic Advising Centers, Pre-Professional Advising, Residential Programs, Student Development and Activities, and Student Success Programs.
+As the Senior Associate Dean in Division of Student Affairs he provided senior level management in many areas including the offices of Admissions and Financial Aid, the Academic Advising Centers, Pre-Professional Advising, [[Residential Programs]], [[Student Development and Activities]], and Student Success Programs.
-In 2007 Charlow was investigated by the New York State Attorney General for conflict of interest when it was reported that he owned stock from 2002-05 in one of the four educational loan companies that his office recommended on a preferred lender list. He had purchased stock at face value in ELG, a small student loan start up company that did not at the time market any loans through university financial aid offices.  Shortly thereafter however, ELG absorbed the student loan division from American Express, a longtime preferred lender at Columbia, and created a new entity named Student Loan Xpress.  When Student Loan Xpress offered Columbia borrowers a very significant 2% interest rate reduction on Parent PLUS loans, they were placed on the preferred lender list for PLUS loans only.  The following year, when they offered competitive terms for student loans, they were placed on the preferred list for Stafford loans.  Before placing Student Loan Xpress on the preferred lender list Charlow disclosed upfront that he owned ELG stock to both his supervisor and to another senior university official involved in overseeing the preferred lender process.  The published preferred lender lists for the years 2002-2007 clearly show that the lender (Student Loan Xpress) consistently offered Columbia borrowers highly competitive terms and in most years provided the best borrower benefits.   Although the University stated repeatedly that no borrowers were negatively affected, Charlow was let go in the summer of 2007. Eventually, an exhaustive New York State investigation of Charlow was quietly ended with no charges being filed and no penalties assessed.
+== 2007 Student Loan Scandal ==
 <p>Charlow remains an active alumnus.  In 2010 the crew program christened a shell in his name.</p>
 [[File:david_f_charlow_85.jpg]]

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 In 2007 Charlow was investigated by the New York State Attorney General for conflict of interest when it was reported that he owned stock from 2002-05 in one of the four educational loan companies that his office recommended on a preferred lender list. He had purchased stock at face value in ELG, a small student loan start up company that did not at the time market any loans through university financial aid offices.  Shortly thereafter however, ELG absorbed the student loan division from American Express, a longtime preferred lender at Columbia, and created a new entity named Student Loan Xpress.  When Student Loan Xpress offered Columbia borrowers a very significant 2% interest rate reduction on Parent PLUS loans, they were placed on the preferred lender list for PLUS loans only.  The following year, when they offered competitive terms for student loans, they were placed on the preferred list for Stafford loans.  Before placing Student Loan Xpress on the preferred lender list Charlow disclosed upfront that he owned ELG stock to both his supervisor and to another senior university official involved in overseeing the preferred lender process.  The published preferred lender lists for the years 2002-2007 clearly show that the lender (Student Loan Xpress) consistently offered Columbia borrowers highly competitive terms and in most years provided the best borrower benefits.   Although the University stated repeatedly that no borrowers were negatively affected, Charlow was let go in the summer of 2007. Eventually, an exhaustive New York State investigation of Charlow was quietly ended with no charges being filed and no penalties assessed.
-Charlow remains an active alumnus.  In 2010 the crew program christened a shell in his name.
+<p>Charlow remains an active alumnus.  In 2010 the crew program christened a shell in his name.</p>
 [[File:david_f_charlow_85.jpg]]

← Older revision		Revision as of 01:43, 21 June 2012
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	Charlow remains an active alumnus. In 2010 the crew program christened a shell in his name.		Charlow remains an active alumnus. In 2010 the crew program christened a shell in his name.
−		+	[[File:david_f_charlow_85.jpg]]

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 <references/>
-[[Category:Scandals]]
 [[Category:Administrators|Charlow]]
 [[Category:Columbia College alumni|Charlow]]
 [[Category:Class of 1985|Charlow]]
 [[Category:Business school alumni|Charlow]]

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 [[Image:Charlow.jpg|frame|David Charlow]]
-'''David Charlow''' [[Columbia College|CC]] '[[1985|85]], [[MBA]] '[[1992|92]] is a former Columbia financial aid director who was allegedly corrupt. Charlow owns shares in a company called Education Lending Group. The group runs a service called Student Loan Xpress, which is classified as a preferred lender<ref>[http://www.columbia.edu/cu/ssw/finaid/downloads/Lender_Comparison.pdf  Comparison of CU preferred lenders]</ref> at Columbia. This represents a clear conflict of interest for David Charlow.
+'''David Charlow''' [[Columbia College|CC]] '[[1985|85]], [[MBA]] '[[1992|92]] is a former Columbia financial aid director who was allegedly corrupt. Charlow profitted from sales of stock in a company called Education Lending Group. The group runs a service called Student Loan Xpress. Approximately one year after Charlow's sale of ELG stock,SLX  was classified as a preferred lender<ref>[http://www.columbia.edu/cu/ssw/finaid/downloads/Lender_Comparison.pdf  Comparison of CU preferred lenders]</ref> at Columbia. This represented a clear conflict of interest for David Charlow, although subsequent review of SLX loan packages suggested that the "preferred lender" status was consistent with its package relative to that of other lenders.
 Charlow was suspended and placed under investigation by the [[New York State]] Attorney General's office.<ref>[http://www.columbiaspectator.com/?q=node/24655 "Charlow Suspended Amid Allegations of Corruption"], Columbia Spectator, April 5, 2007.</ref><ref>[http://www.nytimes.com/2007/04/05/education/05loans.html "Student Loans Led to Benefits by College Aides"], New York Times, April 5, 2007.</ref> In May [[2007]], shortly after [[Commencement]], Charlow was fired.<ref>[[http://www.ctvnewsonline.com/archive.php?content=detail&s=39 "David Charlow, Associate VP of Student Affairs and Head of Financial Aid Suspended"], CTV, April 5, 2007.]</ref>
-Other financial aid directors at the University of Texas at Austin and the University of Southern California are involved in similar scandals.
+Other financial aid directors at the University of Texas at Austin and the University of Southern California were involved in similar scandals, although Charlow was never charged for any crime.
 Charlow, who [[Crew|rowed]] for Columbia for four years, and coached the [[Crew|lightweight crew]] team from 1987-1989, had been a candidate to succeed Athletics Director [[John Reeves]] in [[2004]].<ref>[http://www.columbiaspectator.com/?q=node/15091 CU Financial Aid Director Considered for AD Job - The Spectator April 28, 2004]</ref>