The National Association of Student Financial Aid Administrators is too paranoid about the recent student loan scandal to allow Wachovia to splash its logo all over the nylon bags it ordered for its annual conference, according to the Chicago Tribune.

The group, which represents about 12,000 college-aid officials across the country, didn’t want to appear to be acting improperly by accepting money from Wachovia in exchange for the marketing opportunity. The association also ditched lanyards and pens from other businesses — and even cut off the bottom of notepads that featured the name of a financial-services company — forfeiting about $200,000 in sponsorship fees paid by various vendors.

“Everybody is being very guarded and very careful,” said Dallas Martin, president of the association. “Not that we were doing anything wrong, but we want to make sure this is not misrepresented in any way. We are not being seduced in any way by this.”

The attitude marks a change from last year, in which expensive scholarships ($72,000 worth) and prizes were raffled off to student aid administrators who dropped off their business cards. Now lenders can’t give away anything that is worth more than $10.

Guess that’s what happens when so many prominent financial aid administrators lose their jobs on charges of corruption.

College-aid officials ‘hear outcry’ [Chicago Tribune]

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