October 1, 2004

Administration Hit for Failing to Close Aid Loophole

By STEPHEN BURD

Congressional agency faults the Education Department, which pleads helplessness

The Bush administration can and must move immediately to plug a loophole in the federal student-aid law that has allowed lenders to reap windfall profits from the government, the Government Accountability Office said last week.

The GAO, which is the investigative arm of Congress, rejected claims by administration officials that they could do nothing about the problem now and said that Education

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