Richard P. Reinhardt is resigning as deputy...
Richard P. Reinhardt is resigning as deputy director of the California Student Aid Commission to become vice president for administration at United Education & Software, an Encino company that operates a chain of trade schools.
Reinhardt, 42, has been with the CSAC since 1983. The state agency guarantees, on behalf of the federal government, loans to students made by private financial institutions, such as banks.
His appointment at UES is effective March 13.
Last year, the CSAC and other regulatory agencies discovered problems at a UES subsidiary that serviced about $1 billion in government-backed student loans. The joint investigation, which uncovered problems in UES’ ability to service some of the loans correctly, prompted the company to shed the student-loan processing business and led to UES’ $4.47-million loss for the nine months ended Oct. 31.