CBS Evening News

Student Loan Probe Widens

By Melissa McNamara

April 6, 2007 / 11:08 AM EDT / CBS News

(iStockphoto)

New York Attorney General Andrew Cuomo started looking into the lucrative, $85 billion college loan industry shortly after his election in November. What began as a probe into possible kickbacks to school officials for steering students to preferred lenders has widened to envelop a federal education official and the chancellor of New York's state university system.

CBS News producer Phil Hirschkorn has been reporting on the probe and has the latest developments here.