As part of an ongoing nationwide probe of the $85 billion a year student loan industry, the New York State Attorney General’s Office reached a settlement with Johns Hopkins University addressing improper transactions between financial aid officials and student loan companies. The Attorney General found former Johns Hopkins financial aid director Ellen Frishberg improperly promoted lender Student Loan Xpress, which had paid her more than $65,000 in consulting fees and tuition payments. Under the settlement, Johns Hopkins will pay $1.125 million — $562,500 will be paid into the New York Attorney General’s national education fund to educate college students and their parents about the financial aid process, and $562,500 will be used to implement a similar program to be overseen by the Maryland Attorney General’s office. See related Johns Hopkins University instance, “Failure of Employee to Comply With Ethics Policies.”