JONESBORO, AR - Arkansas State, one of 39 schools around the country served with subpoenas by New York Attorney General Andrew Cuomo, says it had no agreement with a student lender being investigated by Cuomo. But ASU officials said in a news release that the Indian Club, a fan-based organization that supports the Jonesboro school's athletic programs, did have an agreement with University Financial Services.
The ASU release said that, when school officials learned of the existence of the agreement in February, they asked the Indian Club to cancel the agreement, and that was done.
Cuomo is investigating whether college athletic departments steered athletes and other students to education lenders in exchange for kickbacks. He said yesterday he's looking at how team names, mascots and colors were used to suggest that the company was a college's preferred lender.