By Amit R. Paley and Tomoeh Murakami Tse

Washington Post Staff Writers
Thursday, April 12, 2007;

Sallie Mae, the nation's largest student loan provider, agreed yesterday to limit its frequently close relationships with university financial aid officials and pay $2 million to remove itself as a target of a widening national investigation into the industry.

In a settlement with the New York state attorney general, the Reston-based lending behemoth said it would no longer pay travel and entertainment fees for university officials, send its staff to work for free in financial aid offices or operate call centers where company employees provide financial advice but identify themselves only as university advisers.

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