Congress and the IRS are investigating student-loan provider EduCap for allegedly abusing its nonprofit status by charging high interest on loans and bestowing high pay and lavish perks on its top executive and her husband, reports CBS News.

Investigators say the group’s chief executive, Catherine Reynolds, used an EduCap-owned luxury jet for dozens of trips — often accompanied by political figures such as former Sens. Tom Daschle and Ted Stevens and new CIA Director Leon Panetta — that had little to do with the charity’s mission.

Ms. Reynolds declined to speak with CBS about its story.