<p>Student Loan Nonprofit a Boon for CEO;
Watchdogs Question Spending; Company Touts Benefit to Consumers</p>
<p>Two decades ago, a young accountant pioneered the now-$17 billion-a-year private student loan industry through a tiny nonprofit company with a noble goal: helping students pay for college.</p>
<p>The nonprofit company also has become a financial boon for the accountant, Catherine B. Reynolds, and her family. The McLean-based company bought a Gulfstream jet worth about $30 million that she sometimes uses to fly friends and relatives around the world. It has given more than $9 million to a separate nonprofit company run by her husband and paid her $1 million in annual compensation. And the nonprofit donates millions to her favorite charities, including $400,000 to her daughter’s private school.</p>
<p>[Move</a> Over Car and Driver. EduCap Owns a Gulfstream IV? - Kathryn Jean Lopez - The Corner on National Review Online](<a href=“http://corner.nationalreview.com/post/?q=YzYzNjZmNTY5MmE4NDg0ZjgzODUxZDExNjlkN2VjNjE=]Move”>http://corner.nationalreview.com/post/?q=YzYzNjZmNTY5MmE4NDg0ZjgzODUxZDExNjlkN2VjNjE=)</p>