A further document shows Newbill repaid the loan in July 2017.
The list of player payments documented in 2015 also includes players not involved in college programmes at the time, such as NBA veterans Brendon Haywood, Carlos Delfino and Kyle Lowry, so it's possible Newbill's alleged loan from ASM was obtained after college, and merely to help him start his professional career.
Newbill, who could not be reached for comment by the Herald on Sunday, was one of Penn State's top all-time scorers in his three years with the programme, and started his professional career in 2015, playing in France, Turkey and Belgium, before joining the Breakers for the 2017/18 Australian NBL season.
If Newbill took the loan while he attended college, Penn State could face sanctions. Penn State coach Pat Chambers said the university was investigating the allegations.
"We take the information very seriously," he said. "The university needs time to look into that story. Until we know more, I'm not going to comment further on that."
The report also names several NBA players as having received improper benefits while in high school college, such as Dennis Smith Jr, Markelle Fultz and Kyle Kuzma. It also lists several current college stars.
Newbill is set to play in the NBL playoffs, starting next Saturday, when the Breakers take on Melbourne United.